Brokerages Set Hesai Group Sponsored ADR (NASDAQ:HSAI) Target Price at $30.80

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received a consensus rating of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $30.80.

Several analysts have recently weighed in on HSAI shares. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. CICC Research began coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective for the company. Finally, Macquarie Capit upgraded shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, February 10th.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of Hesai Group by 345.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after purchasing an additional 961,493 shares during the period. Vontobel Holding Ltd. purchased a new stake in Hesai Group during the second quarter valued at about $699,000. Sovereign Financial Group Inc. boosted its holdings in shares of Hesai Group by 94.2% in the second quarter. Sovereign Financial Group Inc. now owns 19,425 shares of the company’s stock worth $426,000 after buying an additional 9,424 shares during the period. Allianz Asset Management GmbH increased its position in shares of Hesai Group by 78.2% in the second quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after acquiring an additional 882,180 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in shares of Hesai Group by 117.6% during the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after acquiring an additional 3,368 shares during the period. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Price Performance

Shares of NASDAQ:HSAI opened at $25.75 on Tuesday. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 61.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85. The stock’s 50 day moving average price is $24.64 and its 200 day moving average price is $24.08.

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.