Hesai Group (NASDAQ:HSAI) Stock Jumps 10.1% – Still a Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price rose 10.1% on Friday. The company traded as high as $14.40 and last traded at $14.1340. Approximately 693,741 shares changed hands during trading, a decline of 62% from the average session volume of 1,838,172 shares. The stock had previously closed at $12.84.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $23.50.

Hesai Group Trading Up 10.1%

The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 1.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The business’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $19.59.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. The business had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. On average, research analysts anticipate that Hesai Group Sponsored ADR will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

A number of institutional investors have recently added to or reduced their stakes in the business. TrinityBridge Ltd purchased a new stake in Hesai Group during the 3rd quarter worth $32,000. Bessemer Group Inc. raised its position in Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after purchasing an additional 725 shares during the period. Summit Securities Group LLC purchased a new position in Hesai Group in the first quarter valued at about $56,000. Headlands Technologies LLC purchased a new position in Hesai Group in the second quarter valued at about $234,000. Finally, XY Capital Ltd acquired a new position in shares of Hesai Group during the first quarter worth about $269,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

About Hesai Group

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.