Hesai Group (NASDAQ:HSAI) Downgraded by Wall Street Zen to “Sell”

by · The Cerbat Gem

Wall Street Zen cut shares of Hesai Group (NASDAQ:HSAI – Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Separately, Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $29.75.

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Hesai Group Price Performance

Hesai Group stock opened at $19.10 on Friday. The business has a 50 day simple moving average of $16.86 and a 200 day simple moving average of $20.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.52. The company has a market capitalization of $2.67 billion, a PE ratio of 46.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37. Hesai Group has a one year low of $14.29 and a one year high of $30.85.

Hesai Group (NASDAQ:HSAI – Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The company reported $0.01 earnings per share 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 company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. On average, sell-side analysts forecast that Hesai Group will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Large investors have recently modified their holdings of the stock. Schroder Investment Management Group increased its holdings in shares of Hesai Group by 17,419.6% in the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after purchasing an additional 2,054,114 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Hesai Group by 8,076.3% during the 4th quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock worth $28,311,000 after buying an additional 1,248,436 shares in the last quarter. Norges Bank acquired a new position in Hesai Group during the 4th quarter worth $24,260,000. Goldman Sachs Group Inc. boosted its position in 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 buying an additional 961,493 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Hesai Group by 124.6% in the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after buying an additional 901,370 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Company Profile

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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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