Hesai Group (NASDAQ:HSAI) Stock Price Down 5.7% - Time to Sell?

Shares of Hesai Group (NASDAQ:HSAI - Get Free Report) were down 5.7% on Wednesday . The company traded as low as $19.88 and last traded at $20.04. Approximately 1,099,050 shares were traded during trading, a decline of 60% from the average daily volume of 2,717,259 shares. The stock had previously closed at $21.26.

Analyst Ratings Changes

Several equities research analysts have issued reports on HSAI shares. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective for the company. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th.

Hesai Group Stock Performance

The stock has a market capitalization of $2.70 billion, a PE ratio of -46.81, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average is $16.28 and its 200-day moving average is $14.65.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.11. The company had revenue of $72.39 million during the quarter, compared to the consensus estimate of $532.16 million. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. As a group, research analysts anticipate that Hesai Group will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its position in shares of Hesai Group by 138.6% during the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after buying an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Hesai Group during the first quarter worth about $42,000. Russell Investments Group Ltd. acquired a new position in shares of Hesai Group during the first quarter worth about $150,000. Renaissance Technologies LLC acquired a new position in shares of Hesai Group during the fourth quarter worth about $138,000. Finally, Sovereign Financial Group Inc. acquired a new position in shares of Hesai Group during the first quarter worth about $148,000. 48.53% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.