Hesai Group (NASDAQ:HSAI) Trading Down 7.8% - What's Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price traded down 7.8% during trading on Wednesday . The company traded as low as $21.90 and last traded at $22.22. 1,736,350 shares were traded during mid-day trading, a decline of 61% from the average session volume of 4,453,829 shares. The stock had previously closed at $24.10.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hesai Group currently has a consensus rating of "Buy" and an average target price of $24.43.

Hesai Group Stock Performance

The company has a current ratio of 4.06, a quick ratio of 3.62 and a debt-to-equity ratio of 0.09. The stock's 50 day moving average price is $20.41 and its two-hundred day moving average price is $17.67. The firm has a market capitalization of $2.85 billion, a PE ratio of -725.00 and a beta of 1.14.

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

Institutional Trading of Hesai Group

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