Millennium Management LLC acquired a new stake in Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,066,280 shares of the company's stock, valued at approximately $14,736,000. Millennium Management LLC owned 0.84% of Hesai Group at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Lightspeed Management Company L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at about $110,560,000. JPMorgan Chase & Co. purchased a new position in Hesai Group in the fourth quarter valued at about $1,494,000. BNP Paribas Financial Markets bought a new position in Hesai Group during the 4th quarter worth approximately $1,000,000. Robert Bosch GmbH bought a new position in Hesai Group during the 4th quarter worth approximately $105,768,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Hesai Group during the 4th quarter worth approximately $1,705,000. Hedge funds and other institutional investors own 48.53% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on HSAI shares. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price for the company. Daiwa America raised Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th.
Read Our Latest Stock Report on HSAI
Hesai Group Stock Down 5.9%
Shares of Hesai Group stock traded down $1.25 during trading on Wednesday, reaching $20.01. The stock had a trading volume of 1,567,762 shares, compared to its average volume of 2,718,560. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $16.28 and a two-hundred day moving average price of $14.65. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -45.47, a P/E/G ratio of 1.44 and a beta of 1.18. Hesai Group has a 52 week low of $3.52 and a 52 week high of $24.18.
Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. The business had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Sell-side analysts predict that Hesai Group will post -0.14 EPS for the current fiscal year.
Hesai Group Profile
(
Free Report)
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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