Hesai Group (NASDAQ:HSAI) Trading 8.5% Higher – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price rose 8.5% during trading on Tuesday . The company traded as high as $18.99 and last traded at $19.23. Approximately 505,021 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 2,158,001 shares. The stock had previously closed at $17.73.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HSAI. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. BNP Paribas Exane initiated coverage on Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Hesai Group presently has a consensus rating of “Buy” and an average price target of $29.96.

Hesai Group Trading Up 8.4%

The firm has a market capitalization of $2.69 billion, a PE ratio of 48.19 and a beta of 1.06. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $25.00 and its 200 day simple moving average is $24.05.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). Hesai Group had a return on equity of 6.63% and a net margin of 14.47%.The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $155.57 million. On average, sell-side analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Institutional Trading of Hesai Group

Several hedge funds have recently bought and sold shares of HSAI. SBI Securities Co. Ltd. lifted its position in shares of Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after buying an additional 746 shares in the last quarter. Legal & General Group Plc purchased a new position in Hesai Group during the third quarter valued at approximately $71,000. Eurizon Capital SGR S.p.A. purchased a new position in Hesai Group during the fourth quarter valued at approximately $88,000. Leonteq Securities AG bought a new position in shares of Hesai Group in the fourth quarter worth approximately $106,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Hesai Group in the second quarter worth approximately $108,000. Institutional investors 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.