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

Key Points

• Wall Street Zen downgraded Hesai Group from “Hold” to “Sell,” although the broader analyst consensus remains “Buy” with an average price target of $29.75.
• Hesai shares opened at $19.10, up 2.6%, but the company reported quarterly EPS of $0.01, missing the $0.07 consensus estimate; revenue of $126.7 million slightly exceeded expectations.
• Institutional ownership stands at 48.53%, with major investors including Schroder Investment Management, Federated Hermes, Norges Bank, Goldman Sachs and Deutsche Bank increasing their positions.

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

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

Hesai Group Trading Up 2.6%

NASDAQ HSAI opened at $19.10 on Friday. The company has a quick ratio of 4.52, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.67 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.37. The company has a 50 day moving average price of $16.86 and a 200 day moving average price of $20.69. Hesai Group has a 52 week low of $14.29 and a 52 week high of $30.85.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Tuesday, August 18th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. As a group, sell-side analysts forecast that Hesai Group will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently bought and sold shares of HSAI. Schroder Investment Management Group raised its position in Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company's stock worth $46,276,000 after buying an additional 2,054,114 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Hesai Group by 8,076.3% in the 4th quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company's stock valued at $28,311,000 after acquiring an additional 1,248,436 shares during the last quarter. Norges Bank purchased a new stake in shares of Hesai Group in the 4th quarter valued at $24,260,000. Goldman Sachs Group Inc. increased its stake in shares of Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after acquiring an additional 961,493 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company's stock worth $36,397,000 after acquiring an additional 901,370 shares during the period. 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.

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