Hesai Group (NASDAQ:HSAI) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Hesai Group (NASDAQ:HSAI) from a sell rating to a strong sell rating in a report published on Sunday morning.

Separately, Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.75.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $17.42 on Friday. 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 market capitalization of $2.44 billion, a P/E ratio of 42.49, a PEG ratio of 0.76 and a beta of 1.37. The company has a 50 day moving average price of $16.89 and a 200 day moving average price of $20.42. Hesai Group has a fifty-two week low of $14.29 and a fifty-two week high of $30.85.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Friday, August 14th. 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 firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Equities research analysts forecast that Hesai Group will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HSAI. Advisors Asset Management Inc. increased its holdings in shares of Hesai Group by 2.8% in the fourth quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after purchasing an additional 430 shares during the period. Main Management ETF Advisors LLC boosted its holdings in shares of Hesai Group by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock valued at $1,123,000 after acquiring an additional 512 shares in the last quarter. Bessemer Group Inc. boosted 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 valued at $44,000 after acquiring an additional 725 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Hesai Group by 15.8% during 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 period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Hesai Group by 37.4% during 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 period. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.