Hesai Group (NASDAQ:HSAI) Trading Down 4.3% – Here’s What Happened

Hesai Group (NASDAQ:HSAIGet Free Report)’s share price was down 4.3% during mid-day trading on Thursday . The stock traded as low as $14.82 and last traded at $14.98. Approximately 472,866 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 2,418,596 shares. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HSAI shares. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

View Our Latest Stock Report on Hesai Group

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock’s 50 day simple moving average is $11.62 and its two-hundred day simple moving average is $6.88. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -35.23, a P/E/G ratio of 1.80 and a beta of 1.24.

Hesai Group (NASDAQ:HSAIGet Free Report) last posted its quarterly earnings results on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. On average, analysts forecast that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HSAI. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the third quarter valued at $924,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after acquiring an additional 74,888 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after acquiring an additional 14,500 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares during the period. 48.53% of the stock is owned by institutional investors.

About Hesai Group

(Get Free Report)

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.

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