Perpetual Ltd acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,290 shares of the company's stock, valued at approximately $374,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. bought a new position in shares of Hesai Group in the 4th quarter worth about $110,560,000. Robert Bosch GmbH bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $105,768,000. Millennium Management LLC bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $14,736,000. Voloridge Investment Management LLC bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $9,496,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $9,265,000. 48.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on HSAI. Jefferies Financial Group began coverage on shares of Hesai Group in a research note on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Daiwa Capital Markets began coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $24.43.
Read Our Latest Stock Report on Hesai Group
Hesai Group Stock Performance
Shares of HSAI stock opened at $22.00 on Friday. Hesai Group Sponsored ADR has a one year low of $3.52 and a one year high of $24.18. The company's 50-day moving average is $18.60 and its 200 day moving average is $16.71. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -733.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06.
Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Monday, May 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The company had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.
Hesai Group Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding HSAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report).
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