Hesai Group (NASDAQ:HSAI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Hesai Group (NASDAQ:HSAI) from a hold rating to a sell rating in a research report released on Saturday.

A number of other equities research analysts also recently issued reports on HSAI. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. BNP Paribas Exane started coverage on shares of Hesai Group in a research report on Thursday, March 26th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hesai Group has an average rating of “Buy” and an average price target of $29.96.

Hesai Group Trading Down 5.0%

Shares of HSAI stock opened at $22.44 on Friday. Hesai Group has a 52-week low of $14.69 and a 52-week high of $30.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.38 and a current ratio of 3.73. The company has a 50-day simple moving average of $22.34 and a two-hundred day simple moving average of $23.10. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 56.10 and a beta of 1.50.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.16 earnings per share (EPS) for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. The business had revenue of $143.00 million during the quarter. Research analysts anticipate that Hesai Group will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in shares of Hesai Group by 2.8% during the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after acquiring an additional 430 shares during the period. Main Management ETF Advisors LLC grew its position in shares of Hesai Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock valued at $1,123,000 after acquiring an additional 512 shares during the period. Bessemer Group Inc. grew its position in shares of Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after acquiring an additional 725 shares during the period. Royal Bank of Canada grew its position in shares of Hesai Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock valued at $119,000 after acquiring an additional 726 shares during the period. Finally, SBI Securities Co. Ltd. grew its position in shares of Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 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.