Hesai Group (NASDAQ:HSAI) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Hesai Group (NASDAQ:HSAI) from a hold rating to a sell rating in a research report sent to investors on Saturday.

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 investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Hesai Group currently has an average rating of “Buy” and a consensus target price of $29.75.

Hesai Group Trading Down 5.0%

NASDAQ:HSAI opened at $18.15 on Friday. Hesai Group has a twelve month low of $14.29 and a twelve month high of $30.85. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $16.84 and a two-hundred day moving average price of $20.63. The company has a market cap of $2.54 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Tuesday, August 18th. 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 return on equity of 5.52% and a net margin of 14.77%.The business had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. As a group, analysts expect that Hesai Group will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position 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% during the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after buying an additional 512 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Hesai Group by 45.3% during the 1st 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. Royal Bank of Canada grew its stake in Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock valued at $119,000 after buying an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in 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 buying an additional 746 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

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.