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

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares reached a new 52-week low during trading on Thursday. The company traded as low as $11.85 and last traded at $12.2780, with a volume of 153,178 shares changing hands. The stock had previously closed at $13.19.

Analyst Upgrades and Downgrades

HSAI has been the topic of several research reports. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $23.50.

Hesai Group Stock Down 6.0%

The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average is $16.57 and its 200 day moving average is $18.21. The stock has a market cap of $1.74 billion, a P/E ratio of 30.06, a P/E/G ratio of 0.72 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.01 EPS 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 during the quarter, compared to analyst estimates of $126.00 million. As a group, equities research analysts forecast that Hesai Group Sponsored ADR will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently bought and sold shares of HSAI. Bessemer Group Inc. raised its position in shares of Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after acquiring an additional 725 shares during the period. Blue Trust Inc. acquired a new stake in shares of Hesai Group in the first quarter valued at approximately $51,000. Summit Securities Group LLC acquired a new position in shares of Hesai Group during the 1st quarter worth $56,000. Leonteq Securities AG boosted its stake in shares of Hesai Group by 107.9% in the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock valued at $188,000 after purchasing an additional 5,104 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Hesai Group during the second quarter worth $234,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Company Profile

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.