Hesai Group (NASDAQ:HSAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hesai Group (NASDAQ:HSAI) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Hesai Group currently has an average rating of “Buy” and an average price target of $23.50.

Hesai Group Stock Up 3.4%

Shares of Hesai Group stock opened at $15.91 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. Hesai Group has a 52-week low of $14.29 and a 52-week high of $29.35. The company’s 50 day moving average price is $17.38 and its 200-day moving average price is $18.76. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 0.67 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. Equities research analysts forecast that Hesai Group will post 0.61 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HSAI. Norges Bank purchased a new stake in Hesai Group in the fourth quarter worth $24,260,000. Broad Peak Investment Advisers Pte Ltd purchased a new position in Hesai Group during the 1st quarter valued at $16,539,000. Sapient Capital LLC purchased a new position in Hesai Group during the 1st quarter valued at $13,574,000. C WorldWide Group Holding A S raised its holdings in Hesai Group by 1.4% in the 2nd quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock worth $12,382,000 after purchasing an additional 9,385 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Hesai Group in the 1st quarter worth $11,185,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company’s product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.