Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $32.26.

Several research firms recently weighed in on HSAI. UBS Group initiated coverage on shares of Hesai Group in a report on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group raised their price objective on Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after purchasing an additional 631 shares in the last quarter. Franklin Resources Inc. boosted its position in Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock valued at $429,000 after buying an additional 782 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in Hesai Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after buying an additional 1,008 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Hesai Group by 138.6% during the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Hesai Group during the second quarter worth about $33,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Stock Performance

NASDAQ HSAI opened at $22.11 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. Hesai Group has a 1-year low of $4.02 and a 1-year high of $30.85. The firm has a market capitalization of $2.90 billion, a P/E ratio of 245.67 and a beta of 1.12. The business’s 50-day simple moving average is $25.92 and its 200-day simple moving average is $22.32.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The business had revenue of $98.61 million during the quarter, compared to analysts’ expectations of $846.98 million. Equities analysts predict that Hesai Group will post -0.14 EPS for the current year.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.