Electron Capital Partners LLC Takes Position in Hesai Group Sponsored ADR $HSAI

Key Points

• Electron Capital Partners LLC acquired 63,911 shares of Hesai Group Sponsored ADR ($HSAI) for about $946,000 in the first quarter.
• Hesai Group reported a quarterly earnings miss with an EPS of $0.04, significantly below the expected $0.76, alongside a revenue of $98.61 million.
• Market analysts have a positive outlook, with UBS Group issuing a "buy" rating and a $35.00 target price, contributing to an average target price of $28.74 for Hesai Group.

Electron Capital Partners LLC acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 63,911 shares of the company's stock, valued at approximately $946,000.

A number of other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in shares of Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after acquiring an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Hesai Group in the 1st quarter worth about $42,000. Russell Investments Group Ltd. acquired a new stake in shares of Hesai Group in the 1st quarter worth about $150,000. Renaissance Technologies LLC acquired a new stake in shares of Hesai Group in the 4th quarter worth about $138,000. Finally, Sovereign Financial Group Inc. acquired a new stake in shares of Hesai Group in the 1st quarter worth about $148,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Price Performance

HSAI traded up $2.02 on Monday, reaching $28.51. The company had a trading volume of 6,560,895 shares, compared to its average volume of 4,194,357. Hesai Group Sponsored ADR has a one year low of $3.56 and a one year high of $30.44. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $22.88 and a 200-day moving average of $19.51. The company has a market capitalization of $3.74 billion, a P/E ratio of 316.78 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

HSAI has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. UBS Group initiated coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 target price for the company. Finally, Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and increased 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 issued a Buy rating to the company. According to data from MarketBeat, Hesai Group has an average rating of "Buy" and a consensus target price of $28.74.

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.