Hesai Group (NASDAQ:HSAI) Stock Price Down 4.3% - What's Next?

Hesai Group (NASDAQ:HSAI - Get Free Report) was down 4.3% during mid-day trading on Thursday . The company traded as low as $14.82 and last traded at $14.98. Approximately 472,866 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,418,596 shares. The stock had previously closed at $15.66.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HSAI shares. Morgan Stanley downgraded shares of Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Trading Down 4.9 %

The business has a fifty day moving average of $11.18 and a 200-day moving average of $6.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a market capitalization of $1.89 billion, a P/E ratio of -33.85, a PEG ratio of 1.83 and a beta of 1.24.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. Analysts anticipate that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its holdings in shares of Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock valued at $230,000 after purchasing an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company's stock valued at $138,000 after acquiring an additional 9,500 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock worth $208,000 after acquiring an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company's stock worth $605,000 after acquiring an additional 74,888 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group in the third quarter valued at about $924,000. Institutional investors and hedge funds own 48.53% of the company's stock.

About Hesai Group

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.

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