Knollwood Investment Advisory LLC Has $2.99 Million Stock Holdings 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 lessened its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 11.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202,192 shares of the company's stock after selling 25,000 shares during the quarter. Knollwood Investment Advisory LLC owned approximately 0.15% of Hesai Group worth $2,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in shares of Hesai Group by 138.6% in the first 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. JTC Employer Solutions Trustee Ltd purchased a new position in Hesai Group during the first quarter worth approximately $42,000. Russell Investments Group Ltd. purchased a new stake in Hesai Group in the first quarter valued at $150,000. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at $138,000. Finally, Sovereign Financial Group Inc. acquired a new position in Hesai Group during the 1st quarter worth $148,000. Institutional investors own 48.53% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on HSAI shares. Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Jefferies Financial Group started coverage on Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price on the stock. Finally, UBS Group initiated coverage on Hesai Group in a research note on Tuesday, August 19th. They set a "buy" rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $28.74.

Hesai Group Stock Down 1.0%

Shares of HSAI stock traded down $0.2380 on Monday, hitting $23.0220. The company's stock had a trading volume of 2,094,578 shares, compared to its average volume of 4,241,653. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 256.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. Hesai Group Sponsored ADR has a fifty-two week low of $3.56 and a fifty-two week high of $27.94. The firm's fifty day moving average price is $21.62 and its 200-day moving average price is $18.95.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). The business had revenue of $98.61 million during the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a return on equity of 3.11% and a net margin of 4.00%. Research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current 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.