Hesai Group (NASDAQ:HSAI) Trading Down 6.2% – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price was down 6.2% on Monday . The stock traded as low as $18.53 and last traded at $18.3750. Approximately 622,502 shares changed hands during trading, a decline of 84% from the average daily volume of 3,901,851 shares. The stock had previously closed at $19.59.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research note on Monday. UBS Group started coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price objective on the stock. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hesai Group presently has an average rating of “Buy” and a consensus target price of $32.26.

Hesai Group Stock Performance

The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.27 billion, a PE ratio of 41.15 and a beta of 1.12. The firm’s 50-day simple moving average is $24.90 and its 200-day simple moving average is $22.67.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Tuesday, November 11th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The business had revenue of $111.70 million for the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. On average, research analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently modified their holdings of HSAI. Bessemer Group Inc. purchased a new position in shares of Hesai Group in the 2nd quarter worth approximately $33,000. Legal & General Group Plc acquired a new stake in Hesai Group in the third quarter valued at approximately $71,000. Daiwa Securities Group Inc. acquired a new stake in Hesai Group in the second quarter valued at approximately $108,000. Quantbot Technologies LP purchased a new position in Hesai Group in the third quarter worth $123,000. Finally, JTC Employer Solutions Trustee Ltd increased its position in shares of Hesai Group by 117.6% during the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after purchasing an additional 3,368 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.