Candriam S.C.A. Makes New Investment 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. acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of HSAI. Lightspeed Management Company L.L.C. purchased a new stake in Hesai Group during the 4th quarter worth approximately $110,560,000. Citigroup Inc. increased its holdings in Hesai Group by 1,258.8% in the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after buying an additional 2,570,347 shares during the period. Vanguard Group Inc. acquired a new position in Hesai Group in the 1st quarter worth approximately $25,997,000. Allianz Asset Management GmbH acquired a new position in Hesai Group in the 1st quarter worth approximately $16,696,000. Finally, Millennium Management LLC acquired a new position in Hesai Group in the 4th quarter worth approximately $14,736,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Stock Performance

Hesai Group stock traded down $1.00 during mid-day trading on Friday, hitting $25.83. The company had a trading volume of 738,806 shares, compared to its average volume of 4,226,460. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. Hesai Group Sponsored ADR has a 12-month low of $3.56 and a 12-month high of $27.94. The company's fifty day moving average is $22.20 and its 200-day moving average is $19.16. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 286.61 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $846.98 million. Equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 price target on the stock. UBS Group assumed coverage on shares of Hesai Group in a report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $26.00 in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Hesai Group currently has a consensus rating of "Buy" and an average target price of $28.74.

About Hesai Group

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.