Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Average Rating of “Buy” by Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.96.

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. CICC Research began coverage on shares of Hesai Group in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective on the stock.

Hedge Funds Weigh In On Hesai Group

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Hesai Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock valued at $91,984,000 after acquiring an additional 28,102 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Hesai Group by 29.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after acquiring an additional 584,468 shares during the period. Schroder Investment Management Group grew its stake in shares of Hesai Group by 17,419.6% in the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after purchasing an additional 2,054,114 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Hesai Group by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock valued at $42,303,000 after purchasing an additional 38,312 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after purchasing an additional 901,370 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Performance

Shares of HSAI opened at $24.04 on Friday. The company’s 50 day simple moving average is $26.18 and its 200-day simple moving average is $24.47. The firm has a market cap of $3.37 billion, a PE ratio of 57.24 and a beta of 1.06. Hesai Group has a 12-month low of $10.41 and a 12-month high of $30.85. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.