Hesai Group (NASDAQ:HSAI) Shares Gap Down – Should You Sell?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on HSAI. Wall Street Zen cut shares of Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday. Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $29.75.

Hesai Group Stock Performance

The business’s fifty day moving average is $16.90 and its two-hundred day moving average is $20.28. The stock has a market capitalization of $2.35 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, August 14th. 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 net margin of 14.77% and a return on equity of 5.52%. The business had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $126.00 million. As a group, research analysts anticipate that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HSAI. Bessemer Group Inc. grew its position in Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after acquiring an additional 725 shares in the last quarter. Blue Trust Inc. purchased a new stake in Hesai Group during the first quarter valued at approximately $51,000. Summit Securities Group LLC purchased a new stake in Hesai Group during the first quarter valued at approximately $56,000. SBI Securities Co. Ltd. lifted its stake in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Hesai Group in the 3rd quarter worth approximately $71,000. Institutional investors own 48.53% of the company’s stock.

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.