Hesai Group (NASDAQ:HSAI - Get Free Report) was down 5.7% during trading on Wednesday . The company traded as low as $19.88 and last traded at $20.04. Approximately 1,099,050 shares traded hands during trading, a decline of 60% from the average daily volume of 2,717,259 shares. The stock had previously closed at $21.26.
Analysts Set New Price Targets
Several research firms recently issued reports on HSAI. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock.
Check Out Our Latest Analysis on HSAI
Hesai Group Trading Down 7.3%
The company has a market capitalization of $2.45 billion, a PE ratio of -42.45, a P/E/G ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The business has a fifty day moving average price of $16.36 and a 200 day moving average price of $14.97.
Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. The firm had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. Analysts expect that Hesai Group will post -0.14 EPS for the current fiscal year.
Hedge Funds Weigh In On Hesai Group
Hedge funds have recently made changes to their positions in the business. Lightspeed Management Company L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at about $110,560,000. Robert Bosch GmbH acquired a new position in Hesai Group during the 4th quarter worth approximately $105,768,000. Citigroup Inc. boosted its holdings in Hesai Group by 1,258.8% in the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after acquiring an additional 2,570,347 shares during the period. Vanguard Group Inc. purchased a new position in Hesai Group in the 1st quarter worth approximately $25,997,000. Finally, Goldman Sachs Group Inc. raised its stake 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 purchasing an additional 961,493 shares during the period. Hedge funds and other institutional investors own 48.53% of the company's stock.
About Hesai Group
(
Get Free Report)
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.
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