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

China Universal Asset Management Co. Ltd. lifted its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 43.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,000 shares of the company's stock after buying an additional 19,000 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Hesai Group were worth $932,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Hesai Group in the 1st quarter valued at $42,000. Renaissance Technologies LLC acquired a new position in shares of Hesai Group in the 4th quarter valued at $138,000. Sovereign Financial Group Inc. purchased a new position in shares of Hesai Group during the first quarter worth about $148,000. Hsbc Holdings PLC purchased a new position in shares of Hesai Group during the fourth quarter worth about $159,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group during the fourth quarter worth about $168,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Stock Performance

HSAI traded up $1.90 during trading on Friday, hitting $23.90. The stock had a trading volume of 3,754,602 shares, compared to its average volume of 3,055,191. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The firm has a market capitalization of $3.13 billion, a P/E ratio of -796.67 and a beta of 1.14. The company's 50-day moving average price is $19.75 and its 200 day moving average price is $17.30. Hesai Group Sponsored ADR has a twelve month low of $3.52 and a twelve month high of $24.18.

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

Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Hesai Group presently has an average rating of "Buy" and a consensus target price of $24.43.

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.