Hesai Group Sponsored ADR $HSAI Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. raised its stake in Hesai Group Sponsored ADR (HSAI) by 18.3% in Q3, buying 629,680 shares to hold 4,078,330 shares (a 3.11% stake) worth about $114.6 million.
• Other institutions — including SG Americas, Allianz Asset Management, Robeco Schweiz, Aberdeen and Trivest — also added or initiated positions, leaving roughly 48.53% of the stock owned by institutional investors and hedge funds.
• HSAI is trading near $25.36 with a market cap of $3.55 billion and a PE of 60.38, and Wall Street consensus is a Buy with an average target price of $30.80 (2 Strong Buy, 5 Buy, 1 Hold).

Vanguard Group Inc. grew its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 18.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,078,330 shares of the company's stock after buying an additional 629,680 shares during the period. Vanguard Group Inc. owned 3.11% of Hesai Group worth $114,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Hesai Group by 696.6% in the third quarter. SG Americas Securities LLC now owns 186,755 shares of the company's stock valued at $5,248,000 after acquiring an additional 163,310 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in 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 during the last quarter. Trivest Advisors Ltd acquired a new position in shares of Hesai Group in the 2nd quarter valued at $17,769,000. Robeco Schweiz AG raised its position in Hesai Group by 131.8% in the 3rd quarter. Robeco Schweiz AG now owns 881,000 shares of the company's stock valued at $24,756,000 after purchasing an additional 501,000 shares during the last quarter. Finally, Aberdeen Group plc acquired a new stake in Hesai Group during the 3rd quarter worth $38,241,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Trading Up 1.4%

Shares of Hesai Group stock opened at $25.36 on Thursday. The company has a 50-day moving average of $25.94 and a two-hundred day moving average of $24.47. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.55 billion, a PE ratio of 60.38 and a beta of 1.06. Hesai Group Sponsored ADR has a 12-month low of $10.41 and a 12-month high of $30.85.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several recent research reports. CICC Research began coverage on shares of Hesai Group in a research note on Tuesday, November 25th. They set an "outperform" rating and a $23.50 target price for the company. Sanford C. Bernstein upgraded Hesai Group to a "strong-buy" rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Hesai Group in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.80.

Hesai Group 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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