Hesai Group (NASDAQ:HSAI) Shares Down 4.9% – Should You Sell?

Shares of Hesai Group (NASDAQ:HSAI) fell 4.9% during mid-day trading on Thursday . The company traded as low as $19.75 and last traded at $19.73. 1,634,565 shares traded 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 equities research analysts have issued reports on HSAI shares. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Daiwa Capital Markets began coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 target price for the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Finally, Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Trading Down 6.1 %

The stock has a market cap of $2.47 billion, a P/E ratio of -44.32, a PEG ratio of 1.44 and a beta of 1.07. The firm’s fifty day moving average price is $17.09 and its two-hundred day moving average price is $10.48. 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 Trading of Hesai Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Polunin Capital Partners Ltd increased its position in shares of Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Jane Street Group LLC grew 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 buying an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after buying an additional 14,500 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group during the 3rd quarter valued at $924,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Hesai Group during the 4th quarter worth $1,494,000. 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.