Hesai Group (NASDAQ:HSAI) Reaches New 1-Year Low – Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI) reached a new 52-week low during trading on Thursday . The company traded as low as $14.36 and last traded at $14.4070, with a volume of 495409 shares traded. The stock had previously closed at $14.88.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HSAI shares. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. BNP Paribas Exane initiated coverage on shares of Hesai Group in a research report on Thursday, March 26th. They issued an “outperform” rating for the company. Finally, Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Hesai Group has a consensus rating of “Buy” and an average price target of $30.12.

Hesai Group Trading Down 2.1%

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 business has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $22.06. The company has a market cap of $2.04 billion, a P/E ratio of 33.14, a P/E/G ratio of 0.59 and a beta of 1.35.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results 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 the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. Analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Handelsbanken Fonder AB bought a new position in shares of Hesai Group during the second quarter valued at approximately $456,000. Sapient Capital LLC bought a new position in Hesai Group in the 1st quarter valued at about $13,574,000. Liontrust Investment Partners LLP raised its holdings in Hesai Group by 21.0% during the first quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company’s stock worth $3,149,000 after purchasing an additional 28,548 shares in the last quarter. Empowered Funds LLC bought a new position in Hesai Group during the 1st quarter valued at $11,185,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Hesai Group in the 1st quarter worth $379,000. 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.