Acadian Asset Management LLC Grows Stock Holdings in Hesai Group Sponsored ADR $HSAI

Key Points

• Acadian Asset Management LLC significantly increased its stake in Hesai Group by 2,217.8%, owning 112,276 shares valued at approximately $1.66 million.
• Goldman Sachs also boosted its position by 345.7%, now holding 1,239,625 shares worth around $18.35 million as of the first quarter.
• Analysts have set a consensus target price of $28.74 for Hesai Group, with a majority rating it as a "Buy" or "Strong Buy."

Acadian Asset Management LLC grew its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 2,217.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,276 shares of the company's stock after acquiring an additional 107,432 shares during the quarter. Acadian Asset Management LLC owned about 0.09% of Hesai Group worth $1,656,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new position in Hesai Group in the fourth quarter valued at approximately $1,000,000. Bank of America Corp DE lifted its holdings in shares of Hesai Group by 2,015.6% during the 4th quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock valued at $2,300,000 after buying an additional 158,590 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Hesai Group in the fourth quarter valued at approximately $14,736,000. Point72 Asset Management L.P. bought a new position in Hesai Group in the 4th quarter valued at $2,951,000. Finally, Two Sigma Investments LP bought a new stake in shares of Hesai Group in the 4th quarter valued at $7,084,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Stock Performance

Shares of HSAI stock traded down $0.59 during mid-day trading on Friday, reaching $29.05. The stock had a trading volume of 3,701,237 shares, compared to its average volume of 3,214,801. Hesai Group Sponsored ADR has a 1-year low of $3.91 and a 1-year high of $30.44. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $24.24 and its 200-day moving average is $20.26. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 322.78 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly 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). The company had revenue of $98.61 million during the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. On average, research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on HSAI shares. UBS Group started coverage on shares of Hesai Group in a report on Tuesday, August 19th. They set a "buy" rating and a $35.00 target price for the company. Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $23.00 to $26.00 in a report on Monday, July 28th. Finally, Jefferies Financial Group initiated coverage on shares of Hesai Group in a research note on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $28.74.

About Hesai Group

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.