Hesai Group (NASDAQ:HSAI) Reaches New 52-Week Low – Here’s Why

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price hit a new 52-week low during trading on Thursday. The company traded as low as $11.85 and last traded at $12.2780, with a volume of 153,178 shares traded. The stock had previously closed at $13.19.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HSAI. Wall Street Zen upgraded shares of Hesai Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.50.

Hesai Group Stock Down 6.0%

The firm has a market capitalization of $1.74 billion, a PE ratio of 30.06, a PEG ratio of 0.72 and a beta of 1.36. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $16.57 and its 200 day simple moving average is $18.21.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $126.00 million. On average, equities research analysts forecast that Hesai Group Sponsored ADR will post 0.52 earnings per share for the current year.

Institutional Trading of Hesai Group

A number of institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. raised 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 purchasing an additional 725 shares during the period. Blue Trust Inc. purchased a new stake in Hesai Group in the first quarter valued at $51,000. Summit Securities Group LLC purchased a new stake in Hesai Group in the 1st quarter valued at $56,000. Leonteq Securities AG lifted its position in Hesai Group by 107.9% during the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock worth $188,000 after acquiring an additional 5,104 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Hesai Group in the 2nd quarter valued at approximately $234,000. 48.53% of the stock is owned by institutional investors and hedge funds.

About Hesai Group

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.