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

GF Fund Management CO. LTD. raised its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 68.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294,750 shares of the company's stock after purchasing an additional 119,750 shares during the quarter. GF Fund Management CO. LTD. owned 0.22% of Hesai Group worth $4,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in Hesai Group during the first quarter valued at $338,000. Lightspeed Management Company L.L.C. bought a new position in Hesai Group during the fourth quarter valued at $110,560,000. JPMorgan Chase & Co. bought a new position in Hesai Group during the fourth quarter valued at $1,494,000. BNP Paribas Financial Markets bought a new position in Hesai Group during the fourth quarter valued at $1,000,000. Finally, Bank of America Corp DE lifted its position in Hesai Group by 2,015.6% during the fourth quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock valued at $2,300,000 after purchasing an additional 158,590 shares during the last quarter. Institutional investors own 48.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HSAI. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. Jefferies Financial Group began coverage on shares of Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. Finally, Daiwa Capital Markets began coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given 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 price target of $24.43.

Hesai Group Trading Up 1.5%

Shares of Hesai Group stock traded up $0.34 during trading on Tuesday, hitting $22.81. The stock had a trading volume of 2,896,449 shares, compared to its average volume of 3,040,829. The firm's fifty day simple moving average is $19.58 and its 200-day simple moving average is $17.21. The stock has a market cap of $2.99 billion, a PE ratio of -760.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.62. Hesai Group Sponsored ADR has a 12 month low of $3.52 and a 12 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) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The company had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. As a group, sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS 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.