Hesai Group (NASDAQ:HSAI) Shares Gap Up – Still a Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares gapped up before the market opened on Thursday . The stock had previously closed at $16.59, but opened at $17.50. Hesai Group shares last traded at $18.4130, with a volume of 441,906 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HSAI shares. Wall Street Zen cut Hesai Group from a “sell” rating to a “strong sell” rating in a report on Sunday, August 30th. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.75.

Hesai Group Price Performance

The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $17.07 and its 200-day moving average is $20.16. The company has a market cap of $2.64 billion, a PE ratio of 46.07, a PEG ratio of 0.81 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. On average, equities analysts anticipate that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Hesai Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after purchasing an additional 28,102 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after buying an additional 2,054,114 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Hesai Group by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock valued at $42,303,000 after buying an additional 38,312 shares in the last quarter. Deutsche Bank AG grew its position in shares of Hesai Group by 124.6% in the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after buying an additional 901,370 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Hesai Group by 108.4% in the 3rd quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock worth $41,647,000 after buying an additional 770,816 shares during the period. 48.53% of the stock is currently owned by institutional investors.

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.