Hesai Group (NASDAQ:HSAI) Rating Lowered to “Sell” at Wall Street Zen

Hesai Group (NASDAQ:HSAI) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $29.75.

Hesai Group Price Performance

Shares of NASDAQ HSAI opened at $19.10 on Friday. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. Hesai Group has a 52 week low of $14.29 and a 52 week high of $30.85. The firm has a 50-day moving average price of $16.86 and a 200 day moving average price of $20.67. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37.

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

Hedge Funds Weigh In On Hesai Group

Several hedge funds have recently added to or reduced their stakes in HSAI. Advisors Asset Management Inc. lifted its stake in Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after buying an additional 430 shares in the last quarter. Main Management ETF Advisors LLC increased its position in Hesai Group by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after buying an additional 512 shares in the last quarter. Bessemer Group Inc. increased its position in 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 buying an additional 725 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Hesai Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after acquiring an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after acquiring an additional 746 shares during the last quarter. 48.53% of the stock is currently owned by hedge funds and other 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.