Hesai Group (NASDAQ:HSAI) Shares Gap Down – Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $13.99, but opened at $13.41. Hesai Group shares last traded at $12.9210, with a volume of 884,080 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. One research 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, the stock presently has an average rating of “Buy” and a consensus target price of $23.50.

Hesai Group Stock Performance

The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 0.66 and a beta of 1.36. The stock’s 50 day moving average is $16.69 and its two-hundred day moving average is $18.27. 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 issued its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. Analysts anticipate that Hesai Group Sponsored ADR will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. boosted its stake in shares of 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 during the period. Blue Trust Inc. purchased a new position in shares of Hesai Group during the first quarter worth about $51,000. Summit Securities Group LLC acquired a new position in Hesai Group in the 1st quarter valued at about $56,000. Leonteq Securities AG increased its position in Hesai Group by 107.9% in the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock valued at $188,000 after acquiring an additional 5,104 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Hesai Group during the 2nd quarter valued at approximately $234,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Company Profile

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.