Nomura Holdings Inc. Takes Position in Hesai Group Sponsored ADR $HSAI

Key Points

• Nomura Holdings Inc. has acquired **200,793 shares** of Hesai Group Sponsored ADR, valued at approximately **$2,972,000**, increasing its ownership to about **0.15%** of the company.
• Several institutional investors, including Canada Pension Plan Investment Board, increased their stakes in Hesai Group, resulting in institutional ownership of **48.53%** of the company's stock.
• Despite positive ratings from analysts, Hesai Group's shares have seen a **4.0% drop** in value, with a current trading price around **$25.77** and a recent earnings report that fell short of expectations.

Nomura Holdings Inc. bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,793 shares of the company's stock, valued at approximately $2,972,000. Nomura Holdings Inc. owned about 0.15% of Hesai Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HSAI. SBI Securities Co. Ltd. raised its holdings in shares of Hesai Group by 138.6% during 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 shares of Hesai Group during the first quarter worth $42,000. Renaissance Technologies LLC purchased a new position in shares of Hesai Group during the fourth quarter worth $138,000. Sovereign Financial Group Inc. purchased a new position in shares of Hesai Group during the first quarter worth $148,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Hesai Group during the first quarter worth $150,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Analysts Set New Price Targets

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

Hesai Group Stock Performance

HSAI stock traded up $0.08 during midday trading on Friday, hitting $26.49. 2,373,843 shares of the stock traded hands, compared to its average volume of 3,101,260. The firm has a market cap of $3.47 billion, a P/E ratio of 294.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. The stock's fifty day simple moving average is $22.88 and its 200-day simple moving average is $19.49. Hesai Group Sponsored ADR has a 1-year low of $3.56 and a 1-year high of $27.94.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly 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). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The firm had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. On average, analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Hesai Group Company 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.