Hesai Group (NASDAQ:HSAI) Stock Price Down 5.6% - Time to Sell?

Key Points

• Shares fell about 5.6% intraday to $21.94 on light volume (≈301,883 shares, down ~86% vs. average), trading below the 50-day SMA of $23.94 and near the 200-day SMA of $23.35; market cap is roughly $3.08 billion.
• Analyst consensus is a "Buy" with an average price target of $29.96, though recent notes are mixed (BNP Paribas Exane initiated coverage as "outperform" while Wall Street Zen cut to "sell").
• Latest quarter showed EPS of $0.16 and revenue of $143 million with a 14.5% net margin, but analysts forecast a negative EPS (≈ -$0.14) for the current fiscal year; the company has strong liquidity (quick ratio 3.38, current ratio 3.73) and very low leverage (debt/equity 0.03).

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) shares were down 5.6% during mid-day trading on Monday . The company traded as low as $21.83 and last traded at $21.9440. Approximately 301,883 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,088,730 shares. The stock had previously closed at $23.25.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HSAI shares. BNP Paribas Exane began coverage on shares of Hesai Group in a research report on Thursday, March 26th. They issued an "outperform" rating on the stock. Wall Street Zen lowered shares of Hesai Group from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Hesai Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $29.96.

Hesai Group Stock Down 5.5%

The firm has a market capitalization of $3.08 billion, a P/E ratio of 54.88 and a beta of 1.46. The company has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $23.35. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $143.00 million during the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%. On average, equities analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $18,346,000 after acquiring an additional 961,493 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Hesai Group during the 2nd quarter valued at $156,000. Daiwa Securities Group Inc. purchased a new stake in Hesai Group during the 2nd quarter valued at $108,000. Qube Research & Technologies Ltd bought a new stake in shares of Hesai Group in the 2nd quarter worth $368,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Hesai Group by 24.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company's stock worth $25,277,000 after purchasing an additional 224,381 shares in the last quarter. Institutional investors 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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