Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 748,553 shares of the company's stock, valued at approximately $11,079,000. Hesai Group comprises about 0.3% of Greenwoods Asset Management Hong Kong Ltd.'s holdings, making the stock its 20th biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.57% of Hesai Group at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Hesai Group during the first quarter worth $338,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Hesai Group by 43.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company's stock worth $932,000 after purchasing an additional 19,000 shares during the last quarter. Lightspeed Management Company L.L.C. acquired a new stake in shares of Hesai Group during the fourth quarter worth $110,560,000. JPMorgan Chase & Co. acquired a new stake in shares of Hesai Group during the fourth quarter worth $1,494,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Hesai Group during the fourth quarter worth $1,000,000. Institutional investors and hedge funds own 48.53% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on HSAI shares. 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 objective on the stock. UBS Group assumed coverage on Hesai Group in a report on Tuesday, August 19th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $28.74.
Read Our Latest Research Report on HSAI
Hesai Group Stock Up 0.9%
Shares of NASDAQ HSAI traded up $0.20 during midday trading on Friday, reaching $23.26. 4,369,090 shares of the company's stock were exchanged, compared to its average volume of 3,381,595. Hesai Group Sponsored ADR has a 52-week low of $3.56 and a 52-week high of $27.94. The stock has a market capitalization of $3.05 billion, a PE ratio of 258.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 3.18. The business's fifty day moving average price is $21.62 and its two-hundred day moving average price is $18.95.
Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million for the quarter, compared to analysts' expectations of $846.98 million. Analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.
Hesai Group Profile
(
Free Report)
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.
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