Hesai Group (NASDAQ:HSAI) Shares Gap Down - What's Next?

Key Points

• Hesai Group shares fell 6%, opening at $16.83 after previously closing at $17.42 and later trading near $16.44.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $29.75, despite one recent downgrade to “Strong Sell.”
• 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 gapped down prior to trading on Monday . The stock had previously closed at $17.42, but opened at $16.83. Hesai Group shares last traded at $16.44, with a volume of 185,437 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HSAI. Weiss Ratings raised shares of Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. Wall Street Zen downgraded Hesai Group from a "sell" rating to a "strong sell" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $29.75.

Hesai Group Trading Down 6.0%

The firm has a market cap of $2.29 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. The company has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $20.42. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million for the quarter, compared to analysts' expectations of $126.00 million. As a group, sell-side analysts forecast that Hesai Group Sponsored ADR will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake 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 valued at $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Federated Hermes Inc. purchased a new position in Hesai Group during the second quarter worth approximately $156,000. Daiwa Securities Group Inc. acquired a new stake in Hesai Group in the second quarter valued at approximately $108,000. Qube Research & Technologies Ltd acquired a new stake in Hesai Group in the second quarter valued at approximately $368,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Hesai Group by 24.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company's stock valued at $25,277,000 after buying an additional 224,381 shares in the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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