Hesai Group Sponsored ADR $HSAI Shares Acquired by UBS Group AG

Key Points

• UBS Group AG increased its stake in Hesai Group Sponsored ADR by 32.6% in the fourth quarter, buying 299,195 additional shares and bringing its total holdings to 1,218,110 shares worth about $27.3 million.
• Institutional ownership remains significant, with hedge funds and asset managers such as Vanguard, Allianz, Wellington, and National Bank of Canada FI also adding to or establishing positions; in total, institutions own 48.53% of the stock.
• Analysts are generally positive on HSAI, with an average rating of “Buy” and a consensus price target of $29.96, even as the stock traded down 1.2% to $21.60 on Friday.

UBS Group AG grew its position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 32.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218,110 shares of the company's stock after buying an additional 299,195 shares during the quarter. UBS Group AG owned 0.87% of Hesai Group worth $27,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Hesai Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company's stock valued at $91,984,000 after buying an additional 28,102 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Hesai Group by 29.1% in the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company's stock valued at $72,912,000 after buying an additional 584,468 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Hesai Group by 5.6% in the third quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company's stock valued at $51,992,000 after buying an additional 98,884 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company's stock valued at $41,647,000 after buying an additional 770,816 shares in the last quarter. Finally, Aberdeen Group plc acquired a new stake in shares of Hesai Group in the third quarter valued at $38,241,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised Hesai Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings cut Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Finally, BNP Paribas Exane assumed coverage on Hesai Group in a research note on Thursday, March 26th. They set an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Hesai Group has an average rating of "Buy" and an average target price of $29.96.

Hesai Group Trading Down 1.2%

HSAI opened at $21.60 on Friday. Hesai Group Sponsored ADR has a 12 month low of $14.69 and a 12 month high of $30.85. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 54.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.38. The business has a fifty day moving average price of $22.82 and a 200 day moving average price of $23.11.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $143.00 million during the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%. Sell-side analysts expect that Hesai Group Sponsored ADR will post 0.65 earnings per share for the current fiscal year.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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