Hesai Group (NASDAQ:HSAI) Trading 7.2% Higher – Still a Buy?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $28.68 and last traded at $28.53. 2,261,431 shares were traded during trading, a decline of 13% from the average session volume of 2,607,316 shares. The stock had previously closed at $26.61.

Analyst Ratings Changes

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

Hesai Group Price Performance

The company has a market capitalization of $3.78 billion, a P/E ratio of 68.71 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. The company has a fifty day moving average price of $21.49 and a 200 day moving average price of $23.33.

Hesai Group (NASDAQ:HSAI) last issued 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. The firm had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. On average, sell-side analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in Hesai Group by 345.7% in 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 in the last quarter. Acadian Asset Management LLC raised its stake in Hesai Group by 2,217.8% during the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock valued at $1,656,000 after acquiring an additional 107,432 shares in the last quarter. WT Asset Management Ltd acquired a new position in Hesai Group during the 2nd quarter worth $7,603,000. Vontobel Holding Ltd. bought a new position in shares of Hesai Group in the second quarter worth $699,000. Finally, Sovereign Financial Group Inc. increased its holdings in shares of Hesai Group by 94.2% during the second quarter. Sovereign Financial Group Inc. now owns 19,425 shares of the company’s stock valued at $426,000 after purchasing an additional 9,424 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.