Wall Street Zen Upgrades Hesai Group (NASDAQ:HSAI) to “Sell”

Hesai Group (NASDAQ:HSAI) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of 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 assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hesai Group currently has a consensus rating of “Buy” and an average target price of $23.50.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $15.38 on Friday. Hesai Group has a fifty-two week low of $14.29 and a fifty-two week high of $29.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The stock has a market capitalization of $2.15 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The business’s 50-day simple moving average is $17.37 and its 200-day simple moving average is $18.82.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The business had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Sell-side analysts expect that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Hesai Group in the fourth quarter valued at about $24,260,000. Broad Peak Investment Advisers Pte Ltd acquired a new position in Hesai Group during the first quarter valued at approximately $16,539,000. Sapient Capital LLC acquired a new position in Hesai Group during the first quarter valued at approximately $13,574,000. C WorldWide Group Holding A S grew its stake in Hesai Group by 1.4% in the second 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 bought a new position in Hesai Group in the first quarter valued at approximately $11,185,000. Institutional investors own 48.53% of the company’s stock.

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.