Hesai Group (NASDAQ:HSAI) Stock Price Down 4.7% - Time to Sell?

Key Points

• Hesai Group shares fell 4.7% to $28.40, with a trading volume decline of 80% from the average daily volume.
• Analysts have a positive outlook on Hesai Group, with multiple firms giving a "buy" rating and target prices ranging from $26.00 to $35.00.
• The company reported a net loss of $0.72 per share for its last quarter, significantly missing analysts' consensus estimates of $0.76 EPS.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) shares fell 4.7% during trading on Wednesday . The stock traded as low as $28.31 and last traded at $28.40. 843,886 shares were traded during trading, a decline of 80% from the average session volume of 4,143,958 shares. The stock had previously closed at $29.80.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HSAI. Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $23.00 to $26.00 in a report on Monday, July 28th. Jefferies Financial Group started coverage on Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. Finally, UBS Group began coverage on shares of Hesai Group in a report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, Hesai Group currently has a consensus rating of "Buy" and an average target price of $28.74.

Hesai Group Price Performance

The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 322.78 and a beta of 1.14. The business's 50-day simple moving average is $24.24 and its two-hundred day simple moving average is $20.28. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). The business had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Hesai Group had a return on equity of 3.11% and a net margin of 4.00%. As a group, research analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of 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 purchasing an additional 2,570,347 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Hesai Group by 78.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company's stock worth $44,126,000 after purchasing an additional 882,180 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Hesai Group in the 1st quarter worth $25,997,000. Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 961,493 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Hesai Group by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,208,332 shares of the company's stock worth $26,523,000 after purchasing an additional 150,022 shares in the last quarter. 48.53% of the stock is currently owned by 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.