Hesai Group (NASDAQ:HSAI) Sets New 1-Year Low – Here’s What Happened

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price reached a new 52-week low on Tuesday. The company traded as low as $14.27 and last traded at $14.2120, with a volume of 463,129 shares trading hands. The stock had previously closed at $15.12.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HSAI shares. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Hesai Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. One investment 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 company’s stock. Based on data from MarketBeat, Hesai Group currently has an average rating of “Buy” and an average price target of $23.50.

Hesai Group Stock Down 3.6%

The firm has a market cap of $1.95 billion, a PE ratio of 34.00, a PEG ratio of 0.76 and a beta of 1.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. The stock has a fifty day moving average price of $17.14 and a 200-day moving average price of $18.43.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The business had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. Research analysts expect that Hesai Group Sponsored ADR will post 0.50 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently bought and sold shares of the business. Athena Wealth Management LLC grew its position in shares of Hesai Group by 55.4% during the third quarter. Athena Wealth Management LLC now owns 28,470 shares of the company’s stock worth $454,000 after acquiring an additional 10,152 shares during the last quarter. C WorldWide Group Holding A S raised its stake in Hesai Group by 1.4% during the 2nd quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock valued at $12,382,000 after acquiring an additional 9,385 shares in the last quarter. Squarepoint Ops LLC grew its stake 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 worth $579,000 after purchasing an additional 3,822 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Hesai Group by 15.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock valued at $1,565,000 after purchasing an additional 11,679 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Hesai Group during the 2nd quarter valued at about $234,000. Institutional investors and hedge funds 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.