Hesai Group (NASDAQ:HSAI) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Hesai Group (NASDAQ:HSAI) from a "hold" to a "sell" in a research report issued Saturday.
• Despite that downgrade, the MarketBeat consensus remains a "Buy" with a $29.96 average price target; HSAI trades around $22.66 with a $3.17B market cap and P/E of 56.65, reported $0.16 EPS and $143M revenue last quarter but is forecast to post -0.14 EPS for the current year, and institutions now own about 48.5% after large recent purchases.

Hesai Group (NASDAQ:HSAI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Hesai Group in a research note on Monday, December 29th. BNP Paribas Exane started coverage on Hesai Group in a research note on Thursday, March 26th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $29.96.

Hesai Group Stock Performance

Shares of HSAI stock opened at $22.66 on Friday. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $24.00 and a two-hundred day moving average of $23.60. Hesai Group has a 52 week low of $10.41 and a 52 week high of $30.85. The company has a market cap of $3.17 billion, a P/E ratio of 56.65 and a beta of 1.46.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.16 EPS for the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%.The company had revenue of $143.00 million during the quarter. As a group, analysts anticipate that Hesai Group will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSAI. Schroder Investment Management Group raised its holdings in Hesai Group by 17,419.6% during the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company's stock worth $46,276,000 after purchasing an additional 2,054,114 shares in the last quarter. Aberdeen Group plc bought a new stake in Hesai Group during the third quarter worth approximately $38,241,000. Federated Hermes Inc. raised its holdings in Hesai Group by 8,076.3% during the fourth quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company's stock worth $28,311,000 after purchasing an additional 1,248,436 shares in the last quarter. Norges Bank bought a new stake in Hesai Group during the fourth quarter worth approximately $24,260,000. Finally, Goldman Sachs Group Inc. raised its holdings in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Institutional investors own 48.53% of the company's stock.

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.

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