Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $30.80 Consensus Target Price from Analysts

Hesai Group Sponsored ADR (NASDAQ:HSAI) has earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.80.

HSAI has been the topic of several research analyst reports. UBS Group began coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. CICC Research started coverage on Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research note on Monday, November 24th.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in Hesai Group by 2.8% during the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock worth $515,000 after acquiring an additional 631 shares during the last quarter. Franklin Resources Inc. lifted its stake in Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after purchasing an additional 782 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Hesai Group by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock worth $1,367,000 after purchasing an additional 1,008 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Hesai Group in the second quarter valued at approximately $33,000. Finally, Candriam S.C.A. increased its holdings in shares of Hesai Group by 3.6% in the third quarter. Candriam S.C.A. now owns 72,000 shares of the company’s stock valued at $2,023,000 after purchasing an additional 2,500 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Down 0.8%

Hesai Group stock opened at $19.07 on Thursday. 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 stock has a market capitalization of $2.50 billion, a PE ratio of 45.41 and a beta of 1.22. The business has a 50 day simple moving average of $22.90 and a 200-day simple moving average of $22.71. Hesai Group has a 12 month low of $7.10 and a 12 month high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Tuesday, November 11th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.70 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, analysts anticipate that Hesai Group will post -0.14 EPS for the current fiscal 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.