First Trust Bank Ltd. Makes New $1.65 Million Investment in Hesai Group Sponsored ADR $HSAI

First Trust Bank Ltd. purchased a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 90,595 shares of the company's stock, valued at approximately $1,650,641. Hesai Group makes up about 0.0% of First Trust Bank Ltd.'s investment portfolio, making the stock its 7th biggest holding. First Trust Bank Ltd. owned about 0.06% of Hesai Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB bought a new stake in shares of Hesai Group during the 2nd quarter valued at about $456,000. Sapient Capital LLC purchased a new stake in shares of Hesai Group during the first quarter valued at $13,574,000. Liontrust Investment Partners LLP increased its stake in Hesai Group by 21.0% during the 1st quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company's stock worth $3,149,000 after buying an additional 28,548 shares in the last quarter. Empowered Funds LLC purchased a new stake in Hesai Group in the first quarter valued at approximately $11,185,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Hesai Group during the first quarter worth about $379,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HSAI. Weiss Ratings raised shares of Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. Wall Street Zen cut Hesai Group from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. One 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 company. Based on data from MarketBeat, Hesai Group presently has a consensus rating of "Buy" and a consensus price target of $29.75.

Hesai Group Stock Performance

NASDAQ:HSAI traded down $0.10 during mid-day trading on Friday, hitting $17.39. The company's stock had a trading volume of 654,420 shares, compared to its average volume of 1,927,881. The business's fifty day moving average is $16.88 and its two-hundred day moving average is $20.48. 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 4.86. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 0.75 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million during the quarter, compared to analysts' expectations of $126.00 million. Analysts anticipate that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

Hesai Group 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.