Jump Financial LLC Sells 296,661 Shares of Hesai Group Sponsored ADR $HSAI

Key Points

• Jump Financial LLC reduced its stake in Hesai Group Sponsored ADR by 58.8%, selling 296,661 shares and leaving them with 208,141 shares valued at approximately $3.08 million.
• A variety of hedge funds, including Citigroup Inc. and Vanguard Group Inc., have significantly increased their stakes in Hesai Group, contributing to institutional investors owning 48.53% of the company’s stock.
• Hesai Group's stock currently holds a consensus "Buy" rating from analysts, with a price target averaging $28.74, despite recent disappointing earnings results.

Jump Financial LLC trimmed its position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 58.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,141 shares of the company's stock after selling 296,661 shares during the quarter. Jump Financial LLC owned 0.16% of Hesai Group worth $3,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HSAI. Geode Capital Management LLC increased its stake in Hesai Group by 366.0% in the fourth quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock valued at $659,000 after acquiring an additional 37,464 shares during the last quarter. Renaissance Technologies LLC bought a new position in Hesai Group in the fourth quarter valued at approximately $138,000. Hsbc Holdings PLC bought a new position in Hesai Group in the fourth quarter valued at approximately $159,000. Susquehanna Fundamental Investments LLC bought a new position in Hesai Group in the fourth quarter valued at approximately $651,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Hesai Group in the fourth quarter valued at approximately $1,705,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Trading Down 4.0%

HSAI traded down $1.06 during trading on Monday, reaching $25.77. 2,006,322 shares of the company's stock were exchanged, compared to its average volume of 3,279,772. Hesai Group Sponsored ADR has a one year low of $3.56 and a one year high of $27.94. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.38 billion, a PE ratio of 286.33 and a beta of 1.13. The firm has a fifty day moving average price of $22.51 and a two-hundred day moving average price of $19.29.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted 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). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. As a group, equities research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HSAI shares. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $23.00 to $26.00 in a research note on Monday, July 28th. UBS Group started coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price objective for the company. Finally, 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $28.74.

Hesai Group Company 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.