Hesai Group (NASDAQ:HSAI) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Hesai Group (NASDAQ:HSAI) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other equities research analysts have also issued reports on HSAI. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. BNP Paribas Exane began coverage on shares of Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $29.96.

Hesai Group Stock Down 3.0%

NASDAQ HSAI opened at $22.01 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.38. The company’s 50 day simple moving average is $23.15 and its 200 day simple moving average is $23.13. Hesai Group has a 12 month low of $14.69 and a 12 month high of $30.85. The company has a market capitalization of $3.08 billion, a P/E ratio of 55.03 and a beta of 1.50.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Saturday, February 14th. The company reported $0.16 EPS for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. The business had revenue of $143.00 million for the quarter. Equities research analysts expect that Hesai Group will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

A number of large investors have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Hesai Group during the first quarter valued at approximately $56,000. Cvfg LLC acquired a new position in Hesai Group in the 1st quarter valued at approximately $3,574,000. Leonteq Securities AG increased its stake in Hesai Group by 107.9% in the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock valued at $188,000 after buying an additional 5,104 shares during the period. Broad Peak Investment Advisers Pte Ltd acquired a new position in Hesai Group in the 1st quarter valued at approximately $16,539,000. Finally, Blue Trust Inc. acquired a new position in Hesai Group in the 1st quarter valued at approximately $51,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

About Hesai Group

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.