Hesai Group (NASDAQ:HSAI) Trading Down 6.2% – Here’s Why

Hesai Group Sponsored ADR (NASDAQ:HSAI) was down 6.2% during trading on Monday . The company traded as low as $18.53 and last traded at $18.3750. Approximately 622,502 shares traded hands during trading, a decline of 84% from the average daily volume of 3,901,851 shares. The stock had previously closed at $19.59.

Analyst Ratings Changes

A number of research firms have recently weighed in on HSAI. The Goldman Sachs Group boosted their price objective on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Monday, July 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Hesai Group in a report on Wednesday, October 8th. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, UBS Group started coverage on Hesai Group in a research report on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Hesai Group has an average rating of “Buy” and a consensus price target of $32.26.

Hesai Group Trading Down 6.7%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 43.58 and a beta of 1.13. The business has a fifty day moving average price of $25.33 and a 200 day moving average price of $22.66.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Tuesday, November 11th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.70 million during the quarter, compared to the consensus estimate of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HSAI. Bessemer Group Inc. acquired a new stake in shares of Hesai Group in the second quarter worth $33,000. SBI Securities Co. Ltd. lifted its holdings in shares of Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares in the last quarter. Legal & General Group Plc purchased a new stake in Hesai Group during the 3rd quarter worth $71,000. Quantbot Technologies LP acquired a new stake in Hesai Group in the 3rd quarter valued at $123,000. Finally, Daiwa Securities Group Inc. purchased a new position in Hesai Group in the second quarter valued at about $108,000. 48.53% of the stock is owned by institutional investors and hedge funds.

About Hesai Group

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.