Hesai Group (NASDAQ:HSAI) Stock Jumps 7.1% – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price shot up 7.1% during mid-day trading on Monday. The stock traded as high as $13.30 and last traded at $13.3050. 1,176,943 shares changed hands during trading, a decline of 35% from the average daily volume of 1,807,255 shares. The stock had previously closed at $12.42.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $23.50.

Hesai Group Price Performance

The stock has a market capitalization of $1.83 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $16.91 and its 200-day moving average price is $18.36.

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 company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in HSAI. Bessemer Group Inc. increased its position in shares of Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after acquiring an additional 725 shares during the period. Blue Trust Inc. bought a new stake in shares of Hesai Group during the first quarter valued at approximately $51,000. Summit Securities Group LLC bought a new stake in shares of Hesai Group during the first quarter valued at approximately $56,000. Squarepoint Ops LLC boosted its holdings in shares of Hesai Group by 13.7% in the second quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock valued at $579,000 after purchasing an additional 3,822 shares during the period. Finally, Leonteq Securities AG boosted its holdings in shares of Hesai Group by 107.9% in the first quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock valued at $188,000 after purchasing an additional 5,104 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.

About Hesai Group

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.