GF Fund Management CO. LTD. Boosts Stock Position in Hesai Group Sponsored ADR (NASDAQ:HSAI)

GF Fund Management CO. LTD. increased its stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 68.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,750 shares of the company's stock after buying an additional 119,750 shares during the quarter. GF Fund Management CO. LTD. owned about 0.22% of Hesai Group worth $4,362,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Hesai Group by 2,611.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 413,041 shares of the company's stock worth $6,113,000 after buying an additional 397,805 shares during the last quarter. Perpetual Ltd bought a new stake in Hesai Group in the first quarter worth $374,000. Robeco Institutional Asset Management B.V. bought a new stake in Hesai Group in the first quarter worth $2,782,000. SG Americas Securities LLC bought a new stake in Hesai Group in the first quarter worth $338,000. Finally, Sovereign Financial Group Inc. bought a new stake in Hesai Group in the first quarter worth $148,000. 48.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HSAI. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Daiwa Capital Markets began coverage on Hesai Group in a research report on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price for the company. Finally, Jefferies Financial Group began coverage on Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $24.43.

Hesai Group Stock Up 1.4%

Shares of Hesai Group stock traded up $0.32 during trading on Tuesday, hitting $22.79. 2,692,349 shares of the stock traded hands, compared to its average volume of 3,029,987. The firm has a market cap of $2.99 billion, a P/E ratio of -759.67 and a beta of 1.14. The company has a current ratio of 4.06, a quick ratio of 3.62 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 stock's fifty day simple moving average is $19.49 and its 200 day simple moving average is $17.17.

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