MY.Alpha Management HK Advisors Ltd Makes New $3.45 Million Investment in Hesai Group Sponsored ADR $HSAI

Key Points

• MY.Alpha Management HK Advisors Ltd acquired 233,247 shares of Hesai Group, valued at approximately $3.45 million, making it 1.7% of their portfolio.
• Hesai Group's quarterly earnings were disappointing, reporting only $0.04 EPS versus estimates of $0.76, with revenue significantly below analysts' expectations at $98.61 million.
• Analysts have varying ratings on Hesai Group, with four issuing "buy" ratings and a new target price consensus of $27.18.

MY.Alpha Management HK Advisors Ltd acquired a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 233,247 shares of the company's stock, valued at approximately $3,452,000. Hesai Group comprises approximately 1.7% of MY.Alpha Management HK Advisors Ltd's holdings, making the stock its 17th biggest holding. MY.Alpha Management HK Advisors Ltd owned about 0.18% of Hesai Group as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its holdings in shares of Hesai Group by 19,000.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 22,921 shares of the company's stock valued at $339,000 after buying an additional 22,801 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Hesai Group during the first quarter valued at $150,000. Independent Advisor Alliance purchased a new stake in shares of Hesai Group during the first quarter valued at $2,890,000. Virtu Financial LLC purchased a new stake in shares of Hesai Group during the first quarter valued at $880,000. Finally, National Bank of Canada FI purchased a new stake in shares of Hesai Group during the first quarter valued at $4,522,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HSAI shares. UBS Group started coverage on shares of Hesai Group in a report on Tuesday. They set a "buy" rating and a $35.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. Finally, Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $28.74.

Hesai Group Stock Performance

NASDAQ HSAI traded up $0.20 on Friday, reaching $23.26. 4,369,090 shares of the company's stock traded hands, compared to its average volume of 3,232,076. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 258.44 and a beta of 1.12. The stock has a 50 day moving average price of $21.62 and a 200-day moving average price of $18.90. Hesai Group Sponsored ADR has a fifty-two week low of $3.56 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.62 and a current ratio of 3.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). The business had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. Equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Hesai Group 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.