J. Safra Sarasin Holding AG Has $1.98 Million Holdings in Hesai Group Sponsored ADR $HSAI

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Hesai Group by 30.8%, now holding 90,056 shares worth approximately $1.98 million.
• The company reported a $0.04 EPS for the last quarter, missing analysts' estimates significantly by ($0.72), and revenue was only $98.61 million against expectations of $846.98 million.
• Several analysts have upgraded their ratings on Hesai Group, with Goldman Sachs raising the target price from $26.30 to $36.00 and maintaining a "buy" rating.

J. Safra Sarasin Holding AG cut its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 30.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,056 shares of the company's stock after selling 40,000 shares during the period. J. Safra Sarasin Holding AG owned 0.07% of Hesai Group worth $1,977,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after purchasing an additional 1,249 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Hesai Group during the first quarter worth $150,000. Sovereign Financial Group Inc. acquired a new stake in Hesai Group in the 1st quarter worth about $148,000. Advisors Asset Management Inc. acquired a new stake in shares of Hesai Group in the first quarter valued at approximately $226,000. Finally, Quantbot Technologies LP acquired a new position in Hesai Group in the 1st quarter valued at $272,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Down 1.0%

Shares of NASDAQ:HSAI opened at $27.35 on Friday. Hesai Group Sponsored ADR has a 52-week low of $4.02 and a 52-week high of $30.85. The company has a fifty day moving average of $25.61 and a 200-day moving average of $20.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 3.18. The company has a market capitalization of $3.59 billion, a PE ratio of 303.89 and a beta of 1.15.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its 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). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The firm had revenue of $98.61 million during the quarter, compared to analyst estimates of $846.98 million. On average, equities analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

HSAI has been the subject of several analyst reports. Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Monday, July 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Hesai Group in a report on Saturday, September 27th. UBS Group assumed coverage on Hesai Group in a report on Tuesday, August 19th. They set a "buy" rating and a $35.00 price target for the company. The Goldman Sachs Group boosted their target price on Hesai Group from $26.30 to $36.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Finally, Jefferies Financial Group assumed coverage on 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 analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $32.26.

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.

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