Hesai Group (NASDAQ:HSAI) Trading Down 5.1% – Should You Sell?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) dropped 5.1% during trading on Wednesday . The company traded as low as $17.41 and last traded at $17.37. 252,535 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,921,356 shares. The stock had previously closed at $18.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HSAI shares. Wall Street Zen lowered shares of Hesai Group from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.75.

Hesai Group Price Performance

The stock has a market capitalization of $2.39 billion, a PE ratio of 41.61, a P/E/G ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The firm’s 50 day simple moving average is $16.87 and its 200 day simple moving average is $20.59.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Tuesday, August 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG increased its position in shares of Hesai Group by 32.6% in the fourth quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock valued at $27,286,000 after acquiring an additional 299,195 shares during the period. M&T Bank Corp purchased a new stake in shares of Hesai Group during the fourth quarter worth about $2,904,000. Sapient Capital LLC bought a new stake in shares of Hesai Group in the first quarter worth about $13,574,000. Maxi Investments CY Ltd bought a new stake in shares of Hesai Group in the fourth quarter worth about $11,488,000. Finally, Weiss Asset Management LP purchased a new position in Hesai Group during the 1st quarter valued at about $1,658,000. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.