Hesai Group (NASDAQ:HSAI) Trading Down 4.4% – Should You Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price traded down 4.4% during trading on Monday . The company traded as low as $22.61 and last traded at $22.5250. 773,387 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 3,769,883 shares. The stock had previously closed at $23.56.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. CICC Research assumed coverage on Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. The Goldman Sachs Group increased their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $30.80.

Hesai Group Stock Performance

The firm has a market capitalization of $2.94 billion, a P/E ratio of 53.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The firm has a 50-day moving average price of $20.97 and a two-hundred day moving average price of $22.80.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. The company had revenue of $111.72 million for the quarter, compared to the consensus estimate of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. On average, analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Hesai Group during the first quarter valued at $25,997,000. Aberdeen Group plc purchased a new position in Hesai Group during the 3rd quarter valued at about $38,241,000. Goldman Sachs Group Inc. increased its position in Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after purchasing an additional 961,493 shares during the period. Norges Bank bought a new stake in shares of Hesai Group in the 2nd quarter valued at about $20,619,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Hesai Group by 78.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after purchasing an additional 882,180 shares during the period. 48.53% of the stock is owned by 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.