National Bank of Canada FI Acquires New Position in Hesai Group Sponsored ADR (NASDAQ:HSAI)

National Bank of Canada FI purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 305,547 shares of the company's stock, valued at approximately $4,522,000. National Bank of Canada FI owned approximately 0.23% of Hesai Group at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its position in 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 acquiring an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in Hesai Group in the first quarter worth about $42,000. Renaissance Technologies LLC bought a new stake in Hesai Group in the fourth quarter worth about $138,000. Sovereign Financial Group Inc. bought a new stake in Hesai Group in the first quarter worth about $148,000. Finally, Hsbc Holdings PLC bought a new stake in Hesai Group in the fourth quarter worth about $159,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Price Performance

HSAI stock traded up $2.27 during midday trading on Friday, reaching $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 current ratio of 4.06 and a quick ratio of 3.62. Hesai Group Sponsored ADR has a 1 year low of $3.56 and a 1 year high of $27.77. The company has a market capitalization of $3.36 billion, a P/E ratio of 284.33 and a beta of 1.12. The firm has a 50-day moving average price of $21.15 and a 200-day moving average price of $18.60.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.18%. The business had revenue of $98.61 million during the quarter, compared to analysts' expectations of $846.98 million. On average, research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on HSAI shares. Jefferies Financial Group started coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective on the stock. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $23.00 to $26.00 in a research note 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's stock. According to data from MarketBeat, Hesai Group currently has a consensus rating of "Buy" and a consensus target price of $27.18.

About Hesai Group

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.