Candriam S.C.A. Takes Position in Hesai Group Sponsored ADR $HSAI

Key Points

• Candriam S.C.A. acquired a new stake in Hesai Group, purchasing 157,000 shares valued at approximately $2.3 million, representing 0.12% ownership of the company.
• Despite recent investments from various institutional investors, Hesai Group reported a loss of $0.72 per share against a consensus estimate of $0.76, with revenues significantly lower than expected at $98.61 million.
• Analysts have a generally positive outlook on Hesai Group, with an average rating of "Buy" and a price target of $28.74 following recent upgrades from firms like Morgan Stanley and UBS Group.

Candriam S.C.A. bought a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 157,000 shares of the company's stock, valued at approximately $2,324,000. Candriam S.C.A. owned about 0.12% of Hesai Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after acquiring an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Hesai Group in the 1st quarter worth $42,000. Russell Investments Group Ltd. bought a new position in shares of Hesai Group in the 1st quarter worth $150,000. Renaissance Technologies LLC bought a new position in shares of Hesai Group in the 4th quarter worth $138,000. Finally, Sovereign Financial Group Inc. bought a new position in shares of Hesai Group in the 1st quarter worth $148,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Trading Up 0.9%

NASDAQ:HSAI opened at $23.26 on Friday. Hesai Group Sponsored ADR has a fifty-two week low of $3.56 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 3.62. The stock has a market capitalization of $3.05 billion, a PE ratio of 258.44 and a beta of 1.12. The business's 50-day simple moving average is $21.62 and its 200-day simple moving average is $18.93.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released 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. Sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HSAI has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 target price on the stock. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $26.00 in a research note on Monday, July 28th. Finally, UBS Group initiated coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They set a "buy" rating and a $35.00 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. According to data from MarketBeat, Hesai Group presently has an average rating of "Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.