Hesai Group (NASDAQ:HSAI) Shares Gap Down – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares gapped down before the market opened on Monday . The stock had previously closed at $17.42, but opened at $16.83. Hesai Group shares last traded at $16.44, with a volume of 185,437 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $29.75.

Hesai Group Price Performance

The stock’s 50-day moving average price is $16.89 and its 200 day moving average price is $20.42. 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 firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 0.76 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Friday, August 14th. 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 for the quarter, compared to analyst estimates of $126.00 million. Equities research analysts expect that Hesai Group Sponsored ADR will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its position in shares of Hesai Group by 2.8% during the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after buying an additional 430 shares during the period. Main Management ETF Advisors LLC grew its position in Hesai Group by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after acquiring an additional 512 shares during the period. Bessemer Group Inc. increased its stake in Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after acquiring an additional 725 shares during the last quarter. Royal Bank of Canada increased its stake in Hesai Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after acquiring an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted 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 during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.