Aberdeen Group plc Cuts Stock Holdings in Hesai Group Sponsored ADR $HSAI

Key Points

• Aberdeen Group cut its stake in Hesai by 92.0% in Q4, selling 1,256,158 shares and finishing the quarter with 109,582 shares worth $2.455 million.
• Other institutions moved in opposite directions—Goldman Sachs boosted its position by 345.7% to 1,239,625 shares—and institutional investors now own about 48.53% of the company.
• Hesai trades near $21.77 with a $3.05 billion market cap and a P/E of 54.43; analysts have a consensus Buy rating with an average target of $29.96, despite mixed near-term EPS forecasts (last quarter EPS $0.16; street estimate -0.14 for the current fiscal year).

Aberdeen Group plc lowered its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 92.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,582 shares of the company's stock after selling 1,256,158 shares during the quarter. Aberdeen Group plc owned 0.08% of Hesai Group worth $2,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of HSAI. Goldman Sachs Group Inc. lifted its position in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $18,346,000 after purchasing an additional 961,493 shares during the last quarter. Marshall Wace LLP purchased a new stake in Hesai Group in the 2nd quarter worth about $12,616,000. Federated Hermes Inc. purchased a new stake in shares of Hesai Group in the second quarter worth approximately $156,000. Daiwa Securities Group Inc. purchased a new stake in shares of Hesai Group in the second quarter worth approximately $108,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Hesai Group in the second quarter worth approximately $368,000. Institutional investors own 48.53% of the company's stock.

Hesai Group Trading Down 0.5%

NASDAQ HSAI opened at $21.77 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.38 and a current ratio of 3.73. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 54.43 and a beta of 1.46. The company's 50-day simple moving average is $24.03 and its two-hundred day simple moving average is $23.65. Hesai Group Sponsored ADR has a one year low of $10.41 and a one year high of $30.85.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.16 EPS for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. The business had revenue of $143.00 million for the quarter. Equities analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Hesai Group in a report on Thursday, March 26th. They set an "outperform" rating for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Hesai Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $29.96.

About Hesai Group

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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