Hesai Group (NASDAQ:HSAI) Reaches New 1-Year Low – Should You Sell?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) hit a new 52-week low on Thursday . The company traded as low as $14.36 and last traded at $14.4070, with a volume of 495409 shares. The stock had previously closed at $14.88.

Analyst Ratings Changes

Several research firms have issued reports on HSAI. Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.12.

Hesai Group Price Performance

The firm has a market cap of $2.04 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 0.57 and a beta of 1.35. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $17.66 and a 200 day moving average price of $21.94.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. On average, sell-side analysts expect that Hesai Group Sponsored ADR will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Hesai Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after buying an additional 28,102 shares in the last quarter. Schroder Investment Management Group increased its holdings in Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after acquiring an additional 2,054,114 shares in the last quarter. Wellington Management Group LLP raised its position in Hesai Group by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock worth $42,303,000 after acquiring an additional 38,312 shares during the last quarter. Deutsche Bank AG raised its position in Hesai Group by 124.6% during the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after acquiring an additional 901,370 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock valued at $41,647,000 after purchasing an additional 770,816 shares in the last quarter. Hedge funds and other 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.