Hesai Group (NASDAQ:HSAI) Shares Gap Down – Should You Sell?

Shares of Hesai Group (NASDAQ:HSAI) gapped down prior to trading on Monday . The stock had previously closed at $19.63, but opened at $18.42. Hesai Group shares last traded at $17.48, with a volume of 2,379,784 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HSAI. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Price Performance

The firm has a fifty day moving average of $15.15 and a two-hundred day moving average of $8.65. The stock has a market capitalization of $2.27 billion, a P/E ratio of -40.63, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. On average, analysts predict that Hesai Group will post -0.14 EPS for the current year.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares during the last quarter. Jane Street Group LLC raised its stake in Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in Hesai Group during the 3rd quarter worth about $924,000. Polunin Capital Partners Ltd grew its stake in Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Hesai Group in the fourth quarter valued at about $177,000. Hedge funds and other institutional investors 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.