Wall Street Zen Downgrades Hesai Group (NASDAQ:HSAI) to Strong Sell

Hesai Group (NASDAQ:HSAI) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Hesai Group has an average rating of “Buy” and a consensus target price of $29.75.

Hesai Group Trading Down 7.5%

HSAI opened at $16.12 on Friday. The business has a fifty day moving average price of $16.89 and a 200 day moving average price of $20.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. Hesai Group has a 12 month low of $14.29 and a 12 month high of $30.85. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 39.32, 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). The business had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. Sell-side analysts expect that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HSAI. UBS Group AG increased its position in Hesai Group by 32.6% in the 4th quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock valued at $27,286,000 after acquiring an additional 299,195 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Hesai Group during the first quarter valued at approximately $13,574,000. Maxi Investments CY Ltd acquired a new stake in shares of Hesai Group in the fourth quarter valued at approximately $11,488,000. Weiss Asset Management LP bought a new position in Hesai Group in the 1st quarter worth approximately $1,658,000. Finally, Robeco Schweiz AG raised its position in Hesai Group by 33.9% in the 4th quarter. Robeco Schweiz AG now owns 1,179,500 shares of the company’s stock worth $26,421,000 after purchasing an additional 298,500 shares during the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.