Knollwood Investment Advisory LLC Has $2.99 Million Stake in Hesai Group Sponsored ADR $HSAI

Key Points

• Knollwood Investment Advisory LLC has reduced its stake in Hesai Group (NASDAQ:HSAI) by 11% to approximately $2.99 million, owning a total of 202,192 shares after selling 25,000 shares in the first quarter.
• Hesai Group reported an earnings miss for the quarter ending August 14, with an EPS of $0.04 compared to the consensus estimate of $0.76, and revenue of $98.61 million against an expectation of $846.98 million.
• Research analysts maintain a positive outlook on Hesai Group, with several firms assigning a "buy" rating and price targets ranging from $26.00 to $35.00, contributing to an average target price of $28.74.

Knollwood Investment Advisory LLC decreased its position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,192 shares of the company's stock after selling 25,000 shares during the period. Knollwood Investment Advisory LLC owned approximately 0.15% of Hesai Group worth $2,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. lifted its holdings in Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after buying an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in Hesai Group in the first quarter valued at $42,000. Russell Investments Group Ltd. acquired a new position in Hesai Group in the first quarter valued at $150,000. Renaissance Technologies LLC bought a new stake in Hesai Group in the fourth quarter valued at $138,000. Finally, Sovereign Financial Group Inc. bought a new stake in Hesai Group in the first quarter valued at $148,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Trading Down 4.6%

NASDAQ:HSAI opened at $25.39 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 3.62. The firm has a 50-day moving average of $21.40 and a 200-day moving average of $18.74. The company has a market cap of $3.33 billion, a PE ratio of 282.11 and a beta of 1.12. Hesai Group Sponsored ADR has a one year low of $3.56 and a one year high of $27.94.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 3.11% and a net margin of 4.00%. As a group, equities research analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

HSAI has been the subject of several research analyst reports. Jefferies Financial Group initiated 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. UBS Group initiated coverage on shares of Hesai Group in a research note on Tuesday. They issued a "buy" rating and a $35.00 price target for the company. Finally, Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $23.00 to $26.00 in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $28.74.

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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