Hesai Group (NASDAQ:HSAI) Sets New 12-Month Low – Time to Sell?
by Sarita Garza · The Markets DailyHesai Group Sponsored ADR (NASDAQ:HSAI – Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $14.55 and last traded at $14.4810, with a volume of 19292 shares. The stock had previously closed at $15.02.
Analysts Set New Price Targets
HSAI has been the topic of a number of recent analyst reports. BNP Paribas Exane started coverage on Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. Wall Street Zen downgraded Hesai Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and an average target price of $30.12.
Get Our Latest Analysis on Hesai Group
Hesai Group Stock Performance
The company’s fifty day simple moving average is $20.38 and its two-hundred day simple moving average is $22.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. The stock has a market capitalization of $2.06 billion, a P/E ratio of 33.41, a PEG ratio of 0.60 and a beta of 1.33.
Hesai Group (NASDAQ:HSAI – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $98.71 million during the quarter, compared to analysts’ expectations of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.66 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 worth $357,000 after purchasing an additional 430 shares in the last quarter. Main Management ETF Advisors LLC raised its position in shares of Hesai Group by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock valued at $1,123,000 after buying an additional 512 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after buying an additional 725 shares during the period. Royal Bank of Canada grew its position in Hesai Group by 15.8% during the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after buying an additional 726 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after acquiring an additional 746 shares during the period. 48.53% of the stock is owned by institutional investors and hedge funds.
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.