Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI – Get Free Report) reached a new 52-week high during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $26.30 to $36.00. The Goldman Sachs Group currently has a buy rating on the stock. Hesai Group traded as high as $30.85 and last traded at $30.08, with a volume of 1717523 shares trading hands. The stock had previously closed at $29.05.
Other equities analysts have also issued research reports about the company. Jefferies Financial Group initiated coverage on Hesai Group in a research note on Monday, June 9th. They issued a “buy” rating and a $29.30 target price for the company. UBS Group initiated coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Morgan Stanley raised shares of Hesai Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $26.00 in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, Hesai Group presently has a consensus rating of “Buy” and a consensus price target of $32.26.
Get Our Latest Report on Hesai Group
Hedge Funds Weigh In On Hesai Group
Several hedge funds have recently added to or reduced their stakes in HSAI. Bessemer Group Inc. acquired a new position in shares of Hesai Group during the second quarter worth $33,000. SBI Securities Co. Ltd. grew its stake in shares of Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock worth $32,000 after acquiring an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in Hesai Group in the first quarter worth $42,000. Daiwa Securities Group Inc. acquired a new stake in Hesai Group in the second quarter worth about $108,000. Finally, Federated Hermes Inc. acquired a new position in shares of Hesai Group during the 2nd quarter worth about $156,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.
Hesai Group Price Performance
The company has a 50 day simple moving average of $24.24 and a 200 day simple moving average of $20.31. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.99 billion, a P/E ratio of 332.97 and a beta of 1.13.
Hesai Group (NASDAQ:HSAI – Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a return on equity of 3.11% and a net margin of 4.00%. Sell-side analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share 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.
See Also
- Five stocks we like better than Hesai Group
- The Role Economic Reports Play in a Successful Investment Strategy
- 3 Big Short Interest Names with Bullish Setups
- Expert Stock Trading Psychology Tips
- Why Datavault May be the Penny AI Stock Investors Have Waited For
- Stock Analyst Ratings and Canadian Analyst Ratings
- These 3 Stocks Boosting Buybacks Have Rallying Potential
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Hesai Group Right Now?
Before you consider Hesai Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hesai Group wasn’t on the list.
While Hesai Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
