Hesai Group (NASDAQ:HSAI) Shares Gap Up – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $24.25, but opened at $25.80. Hesai Group shares last traded at $26.14, with a volume of 1,299,627 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. CICC Research assumed coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, The Goldman Sachs Group raised their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $30.80.

Hesai Group Trading Up 9.9%

The business’s 50 day simple moving average is $20.98 and its 200 day simple moving average is $23.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 63.73 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last announced its 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. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The business had revenue of $111.72 million during the quarter, compared to the consensus estimate of $116.11 million. Research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new stake in shares of Hesai Group during the first quarter worth $226,000. Goldman Sachs Group Inc. raised its position in Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after buying an additional 961,493 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Hesai Group by 2,217.8% in the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock worth $1,656,000 after acquiring an additional 107,432 shares during the period. WT Asset Management Ltd acquired a new stake in shares of Hesai Group in the 2nd quarter worth $7,603,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Hesai Group in the second quarter valued at about $699,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.