Hesai Group (NASDAQ:HSAI) Shares Gap Down – Here’s What Happened

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.77, but opened at $17.98. Hesai Group shares last traded at $17.7250, with a volume of 234,805 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Wall Street Zen lowered shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, BNP Paribas Exane assumed coverage on shares of Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Hesai Group currently has a consensus rating of “Buy” and a consensus target price of $30.13.

Hesai Group Stock Performance

The firm has a market capitalization of $2.45 billion, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 0.70 and a beta of 1.34. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $21.24 and its two-hundred day simple moving average is $22.98.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. Sell-side analysts anticipate that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Institutional Trading of Hesai Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in 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 purchasing an additional 430 shares in the last quarter. Main Management ETF Advisors LLC increased its stake in 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 purchasing an additional 512 shares in the last quarter. Bessemer Group Inc. increased its stake in 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 purchasing an additional 725 shares in the last quarter. Royal Bank of Canada increased its stake in 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 purchasing 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 valued at $61,000 after purchasing an additional 746 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Company Profile

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.