Hesai Group Sponsored ADR (NASDAQ:HSAI) Stock Rated “Buy” by Sell-Side Brokerages

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received an average rating of “Buy” from the four brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.50.

HSAI has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded Hesai Group from a “sell” rating to a “strong sell” rating in a report on Sunday, August 30th.

Hesai Group Price Performance

Shares of HSAI opened at $16.25 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 39.64, a PEG ratio of 0.71 and a beta of 1.36. Hesai Group has a 52 week low of $14.29 and a 52 week high of $29.35. The stock has a fifty day moving average of $17.30 and a 200-day moving average of $19.14.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. As a group, sell-side analysts anticipate that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently made changes to their positions in the stock. Sapient Capital LLC bought a new position in shares of Hesai Group during the first quarter worth about $13,574,000. Weiss Asset Management LP bought a new stake in Hesai Group in the first quarter valued at approximately $1,658,000. First Trust Bank Ltd. bought a new stake in Hesai Group in the second quarter valued at approximately $1,650,641. Empowered Funds LLC acquired a new stake in Hesai Group during the 1st quarter valued at approximately $11,185,000. Finally, Long Corridor Asset Management Ltd increased its position in Hesai Group by 270.0% during the 4th quarter. Long Corridor Asset Management Ltd now owns 370,000 shares of the company’s stock valued at $8,288,000 after purchasing an additional 270,000 shares during the period. Institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

Hesai Group is a lidar technology company that develops three-dimensional sensing solutions for automotive and non-automotive applications. Its products use laser-based detection to measure the surrounding environment, helping vehicles and machines identify objects, assess distances and support navigation, perception and safety functions.

The company offers lidar sensors for autonomous driving and advanced driver-assistance systems, including solutions designed for passenger vehicles, robotaxis, delivery vehicles and other commercial applications.