Hesai Group Sponsored ADR $HSAI Stock Holdings Trimmed by Diker Management LLC

Key Points

• Diker Management LLC has reduced its stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 33.4%, holding 59,803 shares worth approximately $885,000.
• Hesai Group's stock experienced a 2.7% decline, trading at $28.01, despite a strong institutional interest with 48.53% ownership.
• The company reported earnings that missed estimates, with $0.04 EPS, significantly below the consensus of $0.76, indicating potential challenges ahead.

Diker Management LLC lessened its position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,803 shares of the company's stock after selling 30,000 shares during the quarter. Hesai Group accounts for 1.1% of Diker Management LLC's portfolio, making the stock its 9th largest position. Diker Management LLC's holdings in Hesai Group were worth $885,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after purchasing an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in Hesai Group during the 1st quarter worth about $42,000. Sovereign Financial Group Inc. acquired a new stake in Hesai Group during the 1st quarter worth about $148,000. Russell Investments Group Ltd. acquired a new stake in Hesai Group during the 1st quarter worth about $150,000. Finally, Advisors Asset Management Inc. acquired a new stake in Hesai Group during the 1st quarter worth about $226,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Price Performance

Hesai Group stock traded up $0.58 during midday trading on Friday, reaching $28.57. The company had a trading volume of 2,406,031 shares, compared to its average volume of 3,561,344. The company has a market capitalization of $3.75 billion, a P/E ratio of 317.44 and a beta of 1.14. Hesai Group Sponsored ADR has a 12-month low of $3.81 and a 12-month high of $30.44. The firm's fifty day simple moving average is $23.57 and its 200-day simple moving average is $19.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share 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 company had revenue of $98.61 million during the quarter, compared to analysts' expectations of $846.98 million. As a group, equities analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley raised 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 research report on Monday, July 28th. Jefferies Financial Group assumed coverage on Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. Finally, UBS Group assumed coverage on Hesai Group in a research report on Tuesday, August 19th. They set a "buy" rating and a $35.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $28.74.

Hesai Group 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.