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

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price reached a new 52-week low on Friday . The company traded as low as $14.55 and last traded at $14.4810, with a volume of 19292 shares changing hands. The stock had previously closed at $15.02.

Analysts Set New Price Targets

A number of brokerages recently commented on HSAI. Wall Street Zen cut Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. BNP Paribas Exane initiated coverage on shares of Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating on the stock. Finally, Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $30.12.

Hesai Group Trading Down 1.9%

The firm’s 50-day simple moving average is $20.38 and its 200 day simple moving average is $22.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 0.60 and a beta of 1.33.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The firm had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. Equities analysts expect that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current year.

Institutional Trading of Hesai Group

Several large investors have recently bought and sold shares of the business. Bessemer Group Inc. grew its position in 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 during the last quarter. Blue Trust Inc. bought a new position in shares of Hesai Group in the first quarter worth about $51,000. Summit Securities Group LLC acquired a new stake in shares of Hesai Group in the 1st quarter valued at approximately $56,000. SBI Securities Co. Ltd. boosted its stake in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Hesai Group during the 3rd quarter valued at approximately $71,000. 48.53% of the stock is owned by institutional investors and hedge funds.

About Hesai Group

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.