Hesai Group (NASDAQ:HSAI) Upgraded at Macquarie Capit

Hesai Group (NASDAQ:HSAI) was upgraded by analysts at Macquarie Capit to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

HSAI has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a research note on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $30.80.

Hesai Group Trading Down 5.9%

Shares of HSAI opened at $25.99 on Tuesday. Hesai Group has a 52-week low of $10.41 and a 52-week high of $30.85. The stock has a market cap of $3.64 billion, a PE ratio of 61.88 and a beta of 1.14. The firm’s fifty day moving average is $24.31 and its two-hundred day moving average is $23.94. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to the consensus estimate of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. Research analysts forecast that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new stake in Hesai Group during the second quarter worth $33,000. SBI Securities Co. Ltd. lifted its position in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after buying an additional 746 shares during the last quarter. Legal & General Group Plc purchased a new position in Hesai Group during the third quarter worth about $71,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hesai Group during the fourth quarter valued at about $88,000. Finally, Leonteq Securities AG purchased a new stake in shares of Hesai Group in the 4th quarter valued at approximately $106,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.