Hesai Group (NASDAQ:HSAI) Reaches New 52-Week Low – Time to Sell?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price reached a new 52-week low during trading on Tuesday. The stock traded as low as $14.27 and last traded at $14.2120, with a volume of 463,129 shares. The stock had previously closed at $15.12.

Wall Street Analysts Forecast Growth

Several research firms have commented on HSAI. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Wall Street Zen upgraded 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 given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $23.50.

Hesai Group Stock Performance

The company’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $18.51. The company has a market cap of $2.02 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. 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) last released its earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $126.70 million during 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%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.61 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently modified their holdings of HSAI. Athena Wealth Management LLC lifted its position in shares of Hesai Group by 55.4% in the 3rd quarter. Athena Wealth Management LLC now owns 28,470 shares of the company’s stock valued at $454,000 after acquiring an additional 10,152 shares in the last quarter. C WorldWide Group Holding A S grew its position in Hesai Group by 1.4% during 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 in the last quarter. Squarepoint Ops LLC grew its position in Hesai Group by 13.7% during the 2nd quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock worth $579,000 after purchasing an additional 3,822 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in Hesai Group by 15.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock valued at $1,565,000 after purchasing an additional 11,679 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Hesai Group during the 2nd quarter valued at $234,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Company Profile

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.