Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price gapped up before the market opened on Monday. The stock had previously closed at $12.18, but opened at $12.82. Hesai Group shares last traded at $12.7610, with a volume of 152,605 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.50.

Hesai Group Price Performance

The business has a 50-day moving average price of $15.58 and a 200 day moving average price of $19.75. 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 stock has a market cap of $1.90 billion, a PE ratio of 30.00, a PEG ratio of 1.19 and a beta of 1.47.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Saturday, August 15th. 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 during the quarter, compared to analysts’ expectations of $126.00 million. As a group, research analysts forecast that Hesai Group Sponsored ADR will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sapient Capital LLC bought a new stake in shares of Hesai Group in the first quarter worth approximately $13,574,000. Weiss Asset Management LP purchased a new position in shares of Hesai Group during the 1st quarter valued at $1,658,000. First Trust Bank Ltd. bought a new stake in shares of Hesai Group during the second quarter valued at approximately $1,650,641. Empowered Funds LLC purchased a new stake in shares of Hesai Group in the first quarter worth about $11,185,000. Finally, Cvfg LLC purchased a new position in shares of Hesai Group in the first quarter valued at $3,574,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

About Hesai Group

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.