Hesai Group (NASDAQ:HSAI) Shares Gap Up to $9.20

Hesai Group (NASDAQ:HSAI – Get Rating)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.20, but opened at $9.49. Hesai Group shares last traded at $9.17, with a volume of 35,762 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HSAI. The Goldman Sachs Group began coverage on Hesai Group in a report on Friday, March 10th. They issued a “buy” rating and a $31.00 price objective on the stock. Credit Suisse Group began coverage on Hesai Group in a report on Tuesday, March 7th. They issued an “outperform” rating and a $28.00 price objective on the stock.

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Hesai Group Stock Up 2.5 %

The company has a quick ratio of 3.98, a current ratio of 4.68 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $9.94.

Hesai Group (NASDAQ:HSAI – Get Rating) last posted its earnings results on Tuesday, May 23rd. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $62.60 million during the quarter. Analysts expect that Hesai Group will post -1.63 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

A number of large investors have recently modified their holdings of the stock. FIL Ltd acquired a new stake in Hesai Group during the 1st quarter valued at approximately $26,280,000. Price T Rowe Associates Inc. MD acquired a new stake in Hesai Group during the 1st quarter valued at approximately $15,749,000. HarbourVest Partners LLC acquired a new stake in Hesai Group during the 1st quarter valued at approximately $9,376,000. Ameriprise Financial Inc. acquired a new stake in Hesai Group during the 1st quarter valued at approximately $7,695,000. Finally, Hel Ved Capital Management Ltd acquired a new stake in Hesai Group during the 1st quarter valued at approximately $4,718,000.

Hesai Group Company Profile

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Hesai Group engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions, through its subsidiaries. Its LiDAR products are used in passenger and commercial vehicles. Hesai Group is based in Shanghai, China.

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