Independent Advisor Alliance Purchases New Holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI)

Key Points

• Independent Advisor Alliance acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) worth approximately $2.89 million, acquiring 195,290 shares during the first quarter.
• Hesai Group reported earnings of ($0.02) per share for the last quarter, exceeding the consensus estimate by $0.11, with revenue of $72.39 million.
• Equities analysts have a positive outlook on Hesai Group, with several upgrades and an average target price of $27.18, reflecting a general bullish sentiment in the market.

Independent Advisor Alliance bought a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 195,290 shares of the company's stock, valued at approximately $2,890,000. Independent Advisor Alliance owned about 0.15% of Hesai Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Lightspeed Management Company L.L.C. bought a new position in Hesai Group in the 4th quarter worth about $110,560,000. Robert Bosch GmbH acquired a new stake in shares of Hesai Group in the 4th quarter worth approximately $105,768,000. Citigroup Inc. lifted its stake in shares of Hesai Group by 1,258.8% in the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after acquiring an additional 2,570,347 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Hesai Group in the 1st quarter worth approximately $25,997,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Hesai Group in the 1st quarter worth approximately $16,696,000. Institutional investors own 48.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HSAI shares. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $23.00 to $26.00 in a research note on Monday, July 28th. Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 price target for the company. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $27.18.

Hesai Group Price Performance

NASDAQ:HSAI traded up $2.27 during trading hours on Friday, reaching $25.59. 11,775,280 shares of the company's stock were exchanged, compared to its average volume of 2,387,995. The company has a market capitalization of $3.36 billion, a P/E ratio of 284.33 and a beta of 1.12. Hesai Group Sponsored ADR has a 12 month low of $3.56 and a 12 month high of $27.77. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. The business's 50-day simple moving average is $21.15 and its two-hundred day simple moving average is $18.58.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). The business had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Hesai Group had a return on equity of 3.18% and a net margin of 4.00%. Sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Hesai Group Profile

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.