Hesai Group (NASDAQ:HSAI) Trading Down 4.8% - Time to Sell?

Key Points

• Hesai Group's stock saw a decline of 4.8% to $28.17, with trading volume down 59% from the average.
• Analysts remain optimistic, with multiple ratings upgrade, including a new price target from Goldman Sachs increasing to $36.00, and a consensus average target price of $32.26.
• In its latest earnings report, Hesai Group reported a significant earnings miss of $0.04 EPS compared to an expected $0.76, with revenue falling short at $98.61 million.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s share price traded down 4.8% on Friday . The company traded as low as $28.15 and last traded at $28.17. 1,692,877 shares were traded during trading, a decline of 59% from the average session volume of 4,127,165 shares. The stock had previously closed at $29.58.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 target price on the stock. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $23.00 to $26.00 in a report on Monday, July 28th. The Goldman Sachs Group increased their price target on shares of Hesai Group from $26.30 to $36.00 and gave the stock a "buy" rating in a report on Monday. Finally, UBS Group started coverage on shares of Hesai Group in a report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $32.26.

Hesai Group Stock Performance

The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The company's 50 day moving average is $24.81 and its 200-day moving average is $20.61. The company has a market capitalization of $3.77 billion, a P/E ratio of 319.67 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). The business had revenue of $98.61 million during 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%. Equities analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its holdings 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 acquiring an additional 2,570,347 shares during the last quarter. Vanguard Group Inc. purchased a new stake in shares of Hesai Group during the 1st quarter valued at about $25,997,000. Allianz Asset Management GmbH purchased a new stake in shares of Hesai Group during the 1st quarter valued at about $16,696,000. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 961,493 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Hesai Group during the 2nd quarter valued at about $20,619,000. 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.

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