Advisors Asset Management Inc. Makes New Investment in Hesai Group Sponsored ADR $HSAI

Key Points

• Advisors Asset Management Inc. has acquired 15,247 shares of Hesai Group Sponsored ADR, valued at approximately $226,000, marking a significant new stake in the company.
• In addition to Advisors Asset Management, other institutional investors have increased their stakes in Hesai Group, with total institutional ownership now at 48.53%.
• Hesai Group reported a loss of $0.04 EPS for the recent quarter, which fell short of analysts’ estimates by $0.72, alongside a revenue of $98.61 million.

Advisors Asset Management Inc. acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,247 shares of the company's stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Hesai Group during the 1st quarter worth $338,000. China Universal Asset Management Co. Ltd. grew its position in Hesai Group by 43.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company's stock worth $932,000 after buying an additional 19,000 shares during the period. BNP Paribas Financial Markets acquired a new position in Hesai Group during the fourth quarter worth about $1,000,000. Bank of America Corp DE grew its position in Hesai Group by 2,015.6% during the fourth quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock worth $2,300,000 after buying an additional 158,590 shares during the period. Finally, J. Safra Sarasin Holding AG acquired a new position in Hesai Group during the first quarter worth about $1,925,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Price Performance

Shares of HSAI traded down $1.01 during trading hours on Wednesday, reaching $28.79. 3,530,620 shares of the company traded hands, compared to its average volume of 3,213,247. Hesai Group Sponsored ADR has a fifty-two week low of $3.88 and a fifty-two week high of $30.44. The stock has a market capitalization of $3.78 billion, a PE ratio of 319.89 and a beta of 1.14. The stock has a fifty day simple moving average of $23.99 and a 200 day simple moving average of $20.07. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06.

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

Wall Street Analyst Weigh In

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

Hesai Group Company 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.