Hesai Group (NASDAQ:HSAI) Reaches New 12-Month Low – Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $11.85 and last traded at $12.2780, with a volume of 153,178 shares traded. The stock had previously closed at $13.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HSAI shares. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. One 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.50.

Hesai Group Price Performance

The stock has a market cap of $1.84 billion, a PE ratio of 32.03, a P/E/G ratio of 0.62 and a beta of 1.36. 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 business has a fifty day moving average of $16.33 and a 200 day moving average of $18.12.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Saturday, August 15th. The company reported $0.01 earnings per share (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 during the quarter, compared to the consensus estimate of $126.00 million. Sell-side analysts anticipate that Hesai Group Sponsored ADR will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in the company. Athena Wealth Management LLC grew its holdings 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 valued at $454,000 after purchasing an additional 10,152 shares during the last quarter. C WorldWide Group Holding A S grew its position in Hesai Group by 1.4% in 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 buying an additional 9,385 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Hesai Group by 13.7% during the second quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock valued at $579,000 after acquiring an additional 3,822 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Hesai Group by 15.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock worth $1,565,000 after buying an additional 11,679 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Hesai Group in the second quarter worth about $234,000. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.