175,000 Shares in Hesai Group (NASDAQ:HSAI) Bought by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. acquired a new position in Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 175,000 shares of the company's stock, valued at approximately $2,418,000. GF Fund Management CO. LTD. owned 0.14% of Hesai Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. purchased a new stake in shares of Hesai Group during the 4th quarter worth approximately $110,560,000. Robert Bosch GmbH bought a new position in Hesai Group during the fourth quarter valued at $105,768,000. Millennium Management LLC purchased a new stake in Hesai Group in the fourth quarter worth $14,736,000. Voloridge Investment Management LLC bought a new stake in shares of Hesai Group in the fourth quarter valued at $9,496,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Hesai Group in the fourth quarter valued at $9,265,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

Shares of NASDAQ HSAI traded down $1.36 during mid-day trading on Friday, hitting $18.80. The company had a trading volume of 3,324,478 shares, compared to its average volume of 2,752,171. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -42.68, a P/E/G ratio of 1.44 and a beta of 1.18. The stock's 50-day moving average price is $16.35 and its 200-day moving average price is $14.80.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. The firm had revenue of $72.39 million for the quarter, compared to analysts' expectations of $532.16 million. On average, sell-side analysts forecast that Hesai Group will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several recent research reports. Daiwa Capital Markets initiated coverage on Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective for the company. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th.

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.