200,793 Shares in Hesai Group Sponsored ADR $HSAI Purchased by Nomura Holdings Inc.

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. 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 and Exchange Commission (SEC). The firm purchased 200,793 shares of the company's stock, valued at approximately $2,972,000. Nomura Holdings Inc. owned 0.15% of Hesai Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Hesai Group during the 4th quarter worth about $138,000. Hsbc Holdings PLC bought a new position in shares of Hesai Group in the fourth quarter valued at approximately $159,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Hesai Group during the fourth quarter valued at approximately $1,705,000. BNP Paribas Financial Markets bought a new stake in Hesai Group during the fourth quarter worth approximately $1,000,000. Finally, Bank of America Corp DE raised its holdings in Hesai Group by 2,015.6% during the fourth quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock worth $2,300,000 after purchasing an additional 158,590 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Trading Up 0.3%

Shares of NASDAQ:HSAI traded up $0.08 during midday trading on Friday, reaching $26.49. The company had a trading volume of 2,373,843 shares, compared to its average volume of 3,146,776. The company has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $19.51. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 294.33 and a beta of 1.13. Hesai Group Sponsored ADR has a 1-year low of $3.56 and a 1-year high of $27.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 3.18.

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

Wall Street Analyst Weigh In

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

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.