Hesai Group (NASDAQ:HSAI) Stock Price Down 5.1% – Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares were down 5.1% on Wednesday . The stock traded as low as $17.41 and last traded at $17.37. Approximately 252,535 shares were traded during trading, a decline of 87% from the average daily volume of 1,921,356 shares. The stock had previously closed at $18.30.

Analysts Set New Price Targets

Several brokerages recently issued reports on HSAI. Weiss Ratings upgraded shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen cut Hesai Group from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Hesai Group has an average rating of “Buy” and a consensus target price of $29.75.

Hesai Group Trading Up 2.4%

The stock has a 50 day moving average of $16.88 and a 200-day moving average of $20.48. The company has a market capitalization of $2.45 billion, a P/E ratio of 42.66, a P/E/G ratio of 0.75 and a beta of 1.37. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Tuesday, August 18th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. On average, research analysts predict that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its holdings in shares of Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares during the last quarter. Blue Trust Inc. purchased a new stake in Hesai Group during the 1st quarter valued at $51,000. Summit Securities Group LLC bought a new stake in shares of Hesai Group in the 1st quarter worth about $56,000. SBI Securities Co. Ltd. lifted its stake in 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 purchasing an additional 746 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Hesai Group during the 3rd quarter worth approximately $71,000. Institutional investors own 48.53% of the company’s stock.

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.