Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen lowered Hesai Group from a “sell” rating to a “strong sell” rating in a research report on Sunday. 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 issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $29.75.

Hesai Group Price Performance

The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $16.92 and a 200 day moving average of $20.22. The firm has a market capitalization of $2.60 billion, a PE ratio of 45.45, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSAI. Vanguard Group Inc. grew its position in Hesai Group by 0.7% in the 4th 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 lifted its position 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 worth $46,276,000 after buying an additional 2,054,114 shares in the last quarter. Wellington Management Group LLP lifted its position 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 worth $42,303,000 after buying an additional 38,312 shares in the last quarter. Deutsche Bank AG boosted its stake 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 last quarter. Finally, National Bank of Canada FI boosted its stake 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 last quarter. 48.53% of the stock is currently owned by hedge funds and other 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.