90,595 Shares in Hesai Group Sponsored ADR $HSAI Bought by First Trust Bank Ltd.

Key Points

• First Trust Bank Ltd. acquired 90,595 Hesai Group shares during the second quarter, valued at approximately $1.65 million and representing about 3.3% of its portfolio and 0.06% of Hesai’s outstanding stock.
• Institutional ownership of Hesai stands at 48.53%, with several other investment firms recently increasing or initiating positions.
• Analysts maintain a consensus “Buy” rating with a $29.75 price target, although Hesai’s latest quarterly EPS of $0.01 missed estimates while revenue of $126.7 million slightly exceeded expectations.

First Trust Bank Ltd. purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 90,595 shares of the company's stock, valued at approximately $1,650,641,000. Hesai Group comprises about 3.3% of First Trust Bank Ltd.'s portfolio, making the stock its 7th biggest holding. First Trust Bank Ltd. owned about 0.06% of Hesai Group as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HSAI. Bessemer Group Inc. grew its position in shares of Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company's stock worth $44,000 after buying an additional 725 shares during the period. Blue Trust Inc. acquired a new position in shares of Hesai Group during the 1st quarter valued at $51,000. Summit Securities Group LLC acquired a new position in shares of Hesai Group during the 1st quarter valued at $56,000. SBI Securities Co. Ltd. boosted its stake in Hesai Group by 37.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company's stock worth $61,000 after acquiring an additional 746 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Hesai Group during the third quarter worth $71,000. 48.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings upgraded Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday. Wall Street Zen downgraded Hesai Group from a "hold" rating to a "sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Hesai Group presently has a consensus rating of "Buy" and a consensus price target of $29.75.

Hesai Group Stock Performance

NASDAQ HSAI opened at $19.10 on Friday. Hesai Group Sponsored ADR has a 1 year low of $14.29 and a 1 year high of $30.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.52. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 0.80 and a beta of 1.37. The company has a fifty day moving average price of $16.86 and a 200-day moving average price of $20.69.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Tuesday, August 18th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. As a group, equities research analysts predict that Hesai Group Sponsored ADR will post 0.62 EPS for the current fiscal year.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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