Mitsubishi UFJ Asset Management Co. Ltd. cut its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 6.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 321,186 shares of the company's stock after selling 22,028 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Hesai Group worth $4,754,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew 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 acquiring an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in Hesai Group during the first quarter worth about $42,000. Renaissance Technologies LLC acquired a new position in shares of Hesai Group during the 4th quarter worth about $138,000. Sovereign Financial Group Inc. bought a new position in Hesai Group during the 1st quarter worth approximately $148,000. Finally, Hsbc Holdings PLC acquired a new stake in Hesai Group in the fourth quarter worth $159,000. 48.53% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on HSAI. Jefferies Financial Group assumed 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 on the stock. Morgan Stanley upgraded Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $23.00 to $26.00 in a report on Monday, July 28th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Hesai Group has a consensus rating of "Buy" and an average target price of $27.18.
View Our Latest Stock Report on HSAI
Hesai Group Price Performance
Shares of HSAI stock traded up $2.27 during trading on Friday, hitting $25.59. The company had a trading volume of 11,775,280 shares, compared to its average volume of 2,387,995. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The firm has a market capitalization of $3.36 billion, a P/E ratio of 284.33 and a beta of 1.12. The stock's 50-day moving average price is $21.15 and its 200 day moving average price is $18.60. Hesai Group Sponsored ADR has a one year low of $3.56 and a one year high of $27.77.
Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a return on equity of 3.18% 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. Equities analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.
About Hesai Group
(
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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