Hesai Group Sponsored ADR $HSAI Shares Sold by Sapient Capital LLC

Key Points

• Sapient Capital reduced its Hesai Group stake by 36.9% in the second quarter, selling 262,149 shares and retaining 447,976 shares valued at approximately $8.16 million. Institutional investors collectively own 48.53% of HSAI.
• Hesai reported quarterly revenue of $98.71 million and earnings of $0.02 per share, exceeding analyst expectations of $96.50 million in revenue and $0.01 EPS.
• HSAI shares opened at $19.22, well below their 12-month high of $30.85. Despite mixed analyst actions, the stock carries a consensus “Buy” rating with a $31.50 target price.

Sapient Capital LLC cut its stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 36.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 447,976 shares of the company's stock after selling 262,149 shares during the period. Sapient Capital LLC owned approximately 0.32% of Hesai Group worth $8,162,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HSAI. Liontrust Investment Partners LLP raised its holdings in Hesai Group by 21.0% during the first quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company's stock worth $3,149,000 after purchasing an additional 28,548 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Hesai Group during the 1st quarter worth approximately $11,185,000. Quantinno Capital Management LP acquired a new position in shares of Hesai Group during the 1st quarter worth approximately $379,000. Weiss Asset Management LP purchased a new stake in Hesai Group in the 1st quarter valued at approximately $1,658,000. Finally, Themes Management Co LLC lifted its stake in Hesai Group by 108.9% in the 1st quarter. Themes Management Co LLC now owns 31,346 shares of the company's stock valued at $599,000 after buying an additional 16,342 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Stock Performance

Shares of NASDAQ HSAI opened at $19.22 on Monday. The company has a 50-day simple moving average of $17.00 and a 200-day simple moving average of $21.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The company has a market cap of $2.69 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. Hesai Group Sponsored ADR has a 12 month low of $14.29 and a 12 month high of $30.85.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The business had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. On average, equities analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on HSAI shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Hesai Group in a research report on Friday, July 24th. Wall Street Zen upgraded Hesai Group from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Hesai Group presently has a consensus rating of "Buy" and a consensus target price of $31.50.

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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