Hesai Group (NASDAQ:HSAI) Trading Down 5.6% – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price fell 5.6% during mid-day trading on Monday . The company traded as low as $21.83 and last traded at $21.9440. 301,883 shares traded hands during trading, a decline of 86% from the average session volume of 2,088,730 shares. The stock had previously closed at $23.25.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. BNP Paribas Exane began coverage on Hesai Group in a research report on Thursday, March 26th. They set an “outperform” rating on the stock. Finally, Wall Street Zen cut shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $29.96.

Hesai Group Stock Down 5.5%

The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $3.08 billion, a PE ratio of 54.88 and a beta of 1.46. The company’s 50 day moving average is $23.94 and its two-hundred day moving average is $23.35.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.16 EPS for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. The business had revenue of $143.00 million for the quarter. On average, analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently added to or reduced their stakes in HSAI. Aristides Capital LLC increased its stake in Hesai Group by 4.6% in the 4th quarter. Aristides Capital LLC now owns 127,024 shares of the company’s stock worth $2,845,000 after acquiring an additional 5,610 shares during the last quarter. Vident Advisory LLC increased its position in Hesai Group by 37.2% during the fourth quarter. Vident Advisory LLC now owns 16,228 shares of the company’s stock valued at $364,000 after acquiring an additional 4,402 shares during the last quarter. Wellington Management Group LLP raised its position in Hesai Group by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock worth $42,303,000 after purchasing an additional 38,312 shares during the period. SRS Investment Management LLC bought a new stake in Hesai Group in the fourth quarter worth about $12,516,000. Finally, Praetorian PR LLC purchased a new position in shares of Hesai Group during the fourth quarter valued at approximately $257,000. 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.