J. Safra Sarasin Holding AG acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 130,056 shares of the company's stock, valued at approximately $1,925,000. J. Safra Sarasin Holding AG owned 0.10% of Hesai Group as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in HSAI. Lightspeed Management Company L.L.C. bought a new position in shares of Hesai Group in the 4th quarter worth $110,560,000. Robert Bosch GmbH acquired a new position in shares of Hesai Group in the 4th quarter valued at approximately $105,768,000. Allianz Asset Management GmbH acquired a new stake in Hesai Group during the 1st quarter worth approximately $16,696,000. Millennium Management LLC bought a new position in Hesai Group in the fourth quarter valued at approximately $14,736,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Hesai Group in the fourth quarter valued at approximately $9,496,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.
Hesai Group Stock Up 5.7%
Shares of NASDAQ HSAI traded up $1.21 during mid-day trading on Thursday, hitting $22.29. The company had a trading volume of 2,920,458 shares, compared to its average volume of 4,309,166. The company has a current ratio of 4.06, a quick ratio of 3.62 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $20.65 and a two-hundred day simple moving average of $18.19. The company has a market capitalization of $2.92 billion, a PE ratio of -743.00 and a beta of 1.12. Hesai Group Sponsored ADR has a one year low of $3.52 and a one year high of $24.65.
Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.11. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The firm had revenue of $72.39 million during the quarter, compared to the consensus estimate of $532.16 million. On average, equities analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. Morgan Stanley upgraded Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $26.00 in a report on Monday, July 28th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $27.18.
Check Out Our Latest Stock Analysis on HSAI
Hesai Group Company Profile
(
Free Report)
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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