Hesai Group Sponsored ADR (NASDAQ:HSAI) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 43.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,000 shares of the company's stock after acquiring an additional 19,000 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Hesai Group were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in HSAI. JTC Employer Solutions Trustee Ltd purchased a new stake in Hesai Group in the first quarter valued at $42,000. Renaissance Technologies LLC purchased a new stake in Hesai Group in the fourth quarter valued at $138,000. Sovereign Financial Group Inc. purchased a new stake in Hesai Group in the first quarter valued at $148,000. Hsbc Holdings PLC purchased a new stake in Hesai Group in the fourth quarter valued at $159,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Hesai Group in the fourth quarter valued at $168,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on HSAI. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Jefferies Financial Group started coverage on Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective on the stock. Finally, Daiwa Capital Markets started coverage on Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $24.43.

Hesai Group Stock Down 1.5%

NASDAQ HSAI traded down $0.35 during trading hours on Wednesday, hitting $22.46. 2,135,097 shares of the company were exchanged, compared to its average volume of 3,037,225. The company has a 50 day moving average of $19.58 and a two-hundred day moving average of $17.21. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. Hesai Group Sponsored ADR has a 52-week low of $3.52 and a 52-week high of $24.18. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of -748.67 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The company had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Equities research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

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.