Hesai Group (NASDAQ:HSAI) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Hesai Group from “sell” to “strong sell,” despite Weiss Ratings upgrading the stock to “hold.” Overall analyst sentiment remains more positive, with an average “Buy” rating and a $29.75 consensus price target.
• Hesai shares opened at $17.42, down 0.4%, and remain well below their 52-week high of $30.85. The stock trades at a P/E ratio of 42.49 and has a market capitalization of approximately $2.44 billion.
• The company reported quarterly earnings of $0.01 per share, missing the $0.07 consensus estimate, while revenue of $126.7 million slightly exceeded expectations. Analysts project full-year earnings of $0.61 per share.

Hesai Group (NASDAQ:HSAI - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday.

Separately, Weiss Ratings upgraded Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Hesai Group currently has an average rating of "Buy" and a consensus target price of $29.75.

Hesai Group Stock Down 0.4%

HSAI opened at $17.42 on Friday. The business's 50-day simple moving average is $16.89 and its 200-day simple moving average is $20.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. Hesai Group has a one year low of $14.29 and a one year high of $30.85. The stock has a market capitalization of $2.44 billion, a P/E ratio of 42.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million during the quarter, compared to analysts' expectations of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. Analysts anticipate that Hesai Group will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HSAI. Bessemer Group Inc. raised its stake in shares of Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company's stock worth $44,000 after purchasing an additional 725 shares during the last quarter. Legal & General Group Plc purchased a new position in Hesai Group in the 3rd quarter valued at $71,000. Blue Trust Inc. acquired a new position in Hesai Group in the 1st quarter valued at $51,000. SBI Securities Co. Ltd. increased its stake in Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company's stock valued at $61,000 after buying an additional 746 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Hesai Group during the 1st quarter worth $56,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

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