Hesai Group (NASDAQ:HSAI) Stock Price Down 5.1% - Here's Why

Key Points

• Hesai Group shares fell 5.1% to $17.37 in Wednesday trading, with volume down 87% from the average daily level.
• The company’s latest quarterly EPS of $0.01 missed analyst expectations of $0.07, although revenue of $126.7 million slightly exceeded forecasts.
• Despite mixed analyst actions—including a new “Sell” rating—the stock has a consensus “Buy” rating and an average price target of $29.75; institutional investors own 48.53% of shares.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price dropped 5.1% on Wednesday . The company traded as low as $17.41 and last traded at $17.37. 252,535 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,921,356 shares. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HSAI. Weiss Ratings upgraded shares of Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded Hesai Group from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $29.75.

Hesai Group Stock Down 6.7%

The stock has a market capitalization of $2.39 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The stock has a fifty day moving average price of $16.87 and a 200 day moving average price of $20.59.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The company had revenue of $126.70 million for the quarter, compared to analysts' expectations of $126.00 million. On average, research analysts forecast that Hesai Group Sponsored ADR will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG raised its position in shares of Hesai Group by 15.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company's stock worth $1,565,000 after buying an additional 11,679 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Hesai Group during the 2nd quarter valued at about $234,000. First Trust Bank Ltd. purchased a new position in shares of Hesai Group during the second quarter worth about $1,650,641,000. Handelsbanken Fonder AB purchased a new position in shares of Hesai Group during the second quarter worth about $456,000. Finally, Sapient Capital LLC bought a new position in shares of Hesai Group in the first quarter worth approximately $13,574,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Company Profile

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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