Hesai Group (NASDAQ:HSAI) Trading Down 9.3% – Should You Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price fell 9.3% on Thursday . The stock traded as low as $22.90 and last traded at $22.99. 965,858 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,170,012 shares. The stock had previously closed at $25.36.

Analyst Ratings Changes

Several brokerages recently commented on HSAI. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Hesai Group has an average rating of “Buy” and a consensus price target of $30.80.

Hesai Group Trading Up 0.5%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 56.81 and a beta of 1.06. The company’s 50 day simple moving average is $25.99 and its two-hundred day simple moving average is $24.45.

Institutional Trading of Hesai Group

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Hesai Group by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after purchasing an additional 629,680 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Hesai Group by 696.6% during the 3rd quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after buying an additional 163,310 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Hesai Group by 29.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares in the last quarter. Robeco Schweiz AG increased its holdings in Hesai Group by 131.8% in the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock worth $24,756,000 after buying an additional 501,000 shares during the last quarter. Finally, Aberdeen Group plc bought a new position in Hesai Group during the third quarter valued at approximately $38,241,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.