Hesai Group (NASDAQ:HSAI) Stock Lifted to Sell by Wall Street Zen

Wall Street Zen upgraded shares of Hesai Group (NASDAQ:HSAI) from a strong sell rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.50.

Hesai Group Stock Down 3.5%

NASDAQ HSAI opened at $15.38 on Friday. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $17.37 and its two-hundred day moving average is $18.86. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 0.67 and a beta of 1.36. Hesai Group has a 1-year low of $14.29 and a 1-year high of $29.35.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. Equities analysts forecast that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Hesai Group in the fourth quarter valued at approximately $24,260,000. Broad Peak Investment Advisers Pte Ltd bought a new stake in Hesai Group during the 1st quarter worth approximately $16,539,000. Sapient Capital LLC bought a new stake in Hesai Group during the 1st quarter worth approximately $13,574,000. C WorldWide Group Holding A S increased its holdings in Hesai Group by 1.4% during the 2nd quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock valued at $12,382,000 after purchasing an additional 9,385 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in Hesai Group during the 1st quarter valued at $11,185,000. 48.53% of the stock is owned by institutional investors.

About Hesai Group

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company’s product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.