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

Hesai Group (NASDAQ:HSAI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research firms also recently commented on HSAI. BNP Paribas Exane initiated coverage on Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Hesai Group currently has a consensus rating of “Buy” and a consensus target price of $30.13.

Hesai Group Trading Up 0.5%

Shares of HSAI opened at $18.15 on Friday. Hesai Group has a 1-year low of $14.69 and a 1-year high of $30.85. The company has a 50-day moving average of $21.28 and a 200 day moving average of $22.96. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 0.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52.

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

Institutional Trading of Hesai Group

Several hedge funds and other institutional investors have recently bought and sold shares of HSAI. Bessemer Group Inc. boosted its position in Hesai Group by 45.3% during 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 in the last quarter. Blue Trust Inc. bought a new stake in Hesai Group during the 1st quarter valued at $51,000. Summit Securities Group LLC bought a new stake in Hesai Group during the 1st quarter valued at $56,000. SBI Securities Co. Ltd. boosted its position in Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Hesai Group in the 3rd quarter valued at about $71,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.