Hesai Group (NASDAQ:HSAI) Reaches New 12-Month Low - Should You Sell?

Key Points

• Hesai Group shares fell 4.8% to $14.21 intraday, reaching a new 52-week low and trading below both its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: recent ratings included downgrades to “hold” and “sell,” but the overall consensus is still “Buy” with a $23.50 target price.
• The company reported quarterly EPS of $0.01, missing the $0.07 consensus estimate, while revenue of $126.7 million slightly exceeded expectations. Institutional investors own approximately 48.5% of the stock.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $14.27 and last traded at $14.2120, with a volume of 463,129 shares traded. The stock had previously closed at $15.12.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Wall Street Zen raised shares of Hesai Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $23.50.

Hesai Group Stock Down 4.8%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. The firm has a market capitalization of $2.02 billion, a P/E ratio of 35.07, a P/E/G ratio of 0.70 and a beta of 1.36. The stock has a fifty day moving average price of $17.29 and a two-hundred day moving average price of $18.51.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. Research analysts forecast that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently modified their holdings of HSAI. Broad Peak Investment Advisers Pte Ltd bought a new position in Hesai Group in the first quarter worth about $16,539,000. Sapient Capital LLC acquired a new stake in shares of Hesai Group during the 1st quarter worth approximately $13,574,000. C WorldWide Group Holding A S lifted its holdings in shares of Hesai Group by 1.4% in the 2nd quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company's stock worth $12,382,000 after purchasing an additional 9,385 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Hesai Group in the 1st quarter worth approximately $11,185,000. Finally, Graham Capital Management L.P. acquired a new stake in Hesai Group in the fourth quarter worth $4,589,000. Institutional investors own 48.53% of the company's stock.

About Hesai Group

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company's product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.

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