Hesai Group (NASDAQ:HSAI) Trading Down 4.6% – Time to Sell?

Hesai Group (NASDAQ:HSAI) traded down 4.6% during trading on Tuesday . The stock traded as low as $12.40 and last traded at $12.34. 907,237 shares traded hands during trading, a decline of 57% from the average session volume of 2,107,521 shares. The stock had previously closed at $12.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HSAI shares. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th. Daiwa Capital Markets assumed coverage on Hesai Group in a research report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a market cap of $1.52 billion, a PE ratio of -27.25, a PEG ratio of 1.44 and a beta of 1.35. The firm’s 50 day moving average is $17.31 and its 200-day moving average is $12.11.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in shares of Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Hesai Group by 49.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after purchasing an additional 14,500 shares during the period. Polunin Capital Partners Ltd lifted its stake in shares of Hesai Group by 17.9% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Hesai Group during the 4th quarter worth $177,000. Finally, JPMorgan Chase & Co. purchased a new stake in Hesai Group in the 4th quarter valued at about $1,494,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.