Hesai Group (NASDAQ:HSAI) Shares Up 4.6% – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price was up 4.6% on Tuesday . The stock traded as high as $16.75 and last traded at $16.8550. 836,933 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,924,157 shares. The stock had previously closed at $16.12.

Wall Street Analyst Weigh In

Several analysts have issued reports on HSAI shares. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $29.75.

Hesai Group Stock Performance

The company’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $20.34. 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 $2.33 billion, a P/E ratio of 40.66, a PEG ratio of 0.76 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Hesai Group by 15.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock worth $1,565,000 after buying an additional 11,679 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Hesai Group in the second quarter valued at about $234,000. First Trust Bank Ltd. bought a new position in Hesai Group during the second quarter worth about $1,650,641. Handelsbanken Fonder AB bought a new position in Hesai Group during the second quarter worth about $456,000. Finally, Sapient Capital LLC acquired a new stake in Hesai Group in the 1st quarter worth about $13,574,000. Institutional investors own 48.53% of the company’s stock.

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.