Hesai Group (NASDAQ:HSAI) Trading Down 4.9% – Time to Sell?

Hesai Group (NASDAQ:HSAI)’s stock price fell 4.9% during trading on Thursday . The stock traded as low as $19.75 and last traded at $19.73. 1,634,565 shares changed hands during trading, a decline of 9% from the average session volume of 1,789,334 shares. The stock had previously closed at $20.75.

Analyst Ratings Changes

Several research firms have commented on HSAI. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $5.80 to $15.00 in a research report on Monday, January 13th. Daiwa Capital Markets started coverage on Hesai Group in a research report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price target for the company. Finally, The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Stock Down 4.4 %

The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -41.82, a PEG ratio of 1.44 and a beta of 1.07. The business has a fifty day moving average of $17.27 and a 200 day moving average of $10.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its stake in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Hesai Group during the fourth quarter worth $138,000. Hsbc Holdings PLC purchased a new stake in shares of Hesai Group during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Hesai Group during the fourth quarter worth $168,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group during the fourth quarter worth $177,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.