421,100 Shares in Hesai Group Sponsored ADR $HSAI Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has acquired 421,100 shares of Hesai Group, valued at approximately $6.2 million, representing a 0.32% stake in the company.
• Recent analyst ratings for Hesai Group include a "buy" from UBS Group with a price target of $35.00 and an upgrade from Morgan Stanley, raising their target price from $23.00 to $26.00.
• The company's latest earnings report showed an EPS of $0.04, significantly below the consensus estimate of $0.76, with revenue reported at $98.61 million against an expected $846.98 million.

Canada Pension Plan Investment Board bought a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 421,100 shares of the company's stock, valued at approximately $6,232,000. Canada Pension Plan Investment Board owned approximately 0.32% of Hesai Group at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its position in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after acquiring an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Hesai Group in the 1st quarter valued at about $42,000. Russell Investments Group Ltd. acquired a new position in Hesai Group in the 1st quarter valued at about $150,000. Renaissance Technologies LLC acquired a new position in Hesai Group in the 4th quarter valued at about $138,000. Finally, Sovereign Financial Group Inc. acquired a new position in Hesai Group in the 1st quarter valued at about $148,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 price objective for the company. UBS Group initiated coverage on Hesai Group in a report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $23.00 to $26.00 in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, Hesai Group presently has a consensus rating of "Buy" and an average target price of $28.74.

Hesai Group Stock Performance

NASDAQ HSAI traded up $0.08 on Friday, reaching $26.49. The stock had a trading volume of 2,373,843 shares, compared to its average volume of 3,101,260. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 3.18. Hesai Group Sponsored ADR has a 12-month low of $3.56 and a 12-month high of $27.94. The business's 50-day moving average price is $22.88 and its 200 day moving average price is $19.50. The stock has a market cap of $3.47 billion, a P/E ratio of 294.33 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The firm had revenue of $98.61 million during the quarter, compared to analysts' expectations of $846.98 million. As a group, equities analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current 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.