22,814 Shares in Hesai Group Sponsored ADR (NASDAQ:HSAI) Purchased by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,814 shares of the company's stock, valued at approximately $338,000.

Other hedge funds also recently modified their holdings of the company. Lightspeed Management Company L.L.C. purchased a new position in Hesai Group in the fourth quarter worth $110,560,000. Robert Bosch GmbH purchased a new position in Hesai Group in the fourth quarter worth $105,768,000. Millennium Management LLC purchased a new position in Hesai Group in the fourth quarter worth $14,736,000. Voloridge Investment Management LLC purchased a new position in Hesai Group in the fourth quarter worth $9,496,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Hesai Group in the fourth quarter worth $9,265,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Stock Performance

Shares of NASDAQ HSAI traded down $1.10 during trading on Friday, reaching $22.00. 6,576,220 shares of the stock traded hands, compared to its average volume of 2,987,370. Hesai Group Sponsored ADR has a 52-week low of $3.52 and a 52-week high of $24.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.62. The company has a 50-day moving average of $18.60 and a 200-day moving average of $16.75. The stock has a market capitalization of $2.89 billion, a P/E ratio of -733.33 and a beta of 1.06.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS 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 for the quarter, compared to analysts' expectations of $532.16 million. Analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

HSAI has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective on the stock. Daiwa Capital Markets initiated coverage on Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Daiwa America raised Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $24.43.

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.