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

Key Points

• Hesai Group shares hit a new 52-week low, falling to as low as $14.36 intraday before closing near $14.41, well below the prior close of $14.88.
• Despite the weak stock performance, analysts remain mostly constructive: the consensus rating is Buy with an average target price of $30.12, though recent rating changes were mixed.
• The company’s latest earnings beat expectations, reporting $0.02 EPS on revenue of $98.71 million versus estimates of $96.50 million, while institutional investors have continued to add or build positions.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $14.36 and last traded at $14.4070, with a volume of 495409 shares changing hands. The stock had previously closed at $14.88.

Analyst Ratings Changes

A number of research firms recently commented on HSAI. Weiss Ratings lowered Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. BNP Paribas Exane began coverage on shares of Hesai Group in a report on Thursday, March 26th. They issued an "outperform" rating on the stock. Finally, Wall Street Zen raised shares of 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 company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $30.12.

Hesai Group Stock Performance

The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.04 billion, a PE ratio of 33.14, a P/E/G ratio of 0.59 and a beta of 1.35. The stock's 50 day simple moving average is $18.00 and its two-hundred day simple moving average is $22.06.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The company had revenue of $98.71 million during the quarter, compared to analysts' expectations of $96.50 million. As a group, research analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB acquired a new stake in Hesai Group in the 2nd quarter valued at $456,000. Sapient Capital LLC purchased a new stake in shares of Hesai Group during the 1st quarter valued at about $13,574,000. Liontrust Investment Partners LLP lifted its position in Hesai Group by 21.0% during the 1st quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company's stock worth $3,149,000 after acquiring an additional 28,548 shares in the last quarter. Empowered Funds LLC acquired a new position in Hesai Group during the 1st quarter worth approximately $11,185,000. Finally, Quantinno Capital Management LP purchased a new position in Hesai Group in the 1st quarter worth approximately $379,000. 48.53% of the stock is currently owned by hedge funds and other 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.

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