Hesai Group (NASDAQ:HSAI) Stock Price Down 5% - Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price fell 5% during trading on Tuesday . The company traded as low as $20.77 and last traded at $20.85. 525,016 shares were traded during mid-day trading, a decline of 82% from the average session volume of 2,980,197 shares. The stock had previously closed at $21.95.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HSAI shares. Jefferies Financial Group assumed coverage on shares of Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price on the stock. Daiwa Capital Markets initiated coverage on Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $24.43.

Hesai Group Price Performance

The firm has a market cap of $2.83 billion, a P/E ratio of -724.10 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.62. The stock's 50-day simple moving average is $19.08 and its two-hundred day simple moving average is $16.88.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The firm had revenue of $72.39 million during the quarter, compared to analysts' expectations of $532.16 million. Equities research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lightspeed Management Company L.L.C. bought a new position in Hesai Group in the 4th quarter valued at $110,560,000. Robert Bosch GmbH purchased a new stake in shares of Hesai Group during the fourth quarter valued at $105,768,000. Citigroup Inc. grew its holdings in shares of Hesai Group by 1,258.8% in the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after purchasing an additional 2,570,347 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Hesai Group in the first quarter worth about $25,997,000. Finally, Goldman Sachs Group Inc. increased its stake in Hesai Group by 345.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after buying an additional 961,493 shares during the period. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.