Perpetual Ltd Makes New Investment in Hesai Group Sponsored ADR (NASDAQ:HSAI)

Perpetual Ltd bought a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,290 shares of the company's stock, valued at approximately $374,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Hesai Group during the 1st quarter valued at about $2,782,000. SG Americas Securities LLC bought a new stake in shares of Hesai Group during the 1st quarter valued at $338,000. Sovereign Financial Group Inc. purchased a new stake in shares of Hesai Group in the 1st quarter worth $148,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Hesai Group in the 1st quarter worth $42,000. Finally, GF Fund Management CO. LTD. bought a new position in Hesai Group in the 4th quarter worth $2,418,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Wall Street Analyst Weigh In

HSAI has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 price target for the company. Daiwa America raised Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hesai Group currently has a consensus rating of "Buy" and a consensus price target of $24.43.

Hesai Group Price Performance

HSAI stock traded down $0.10 during trading on Wednesday, reaching $20.57. The company's stock had a trading volume of 1,527,409 shares, compared to its average volume of 2,990,525. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. The company's fifty day moving average is $18.96 and its 200-day moving average is $16.85. The company has a market capitalization of $2.70 billion, a P/E ratio of -686.00 and a beta of 1.14. Hesai Group Sponsored ADR has a 1 year low of $3.52 and a 1 year high of $24.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.11. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The firm had revenue of $72.39 million during the quarter, compared to analysts' expectations of $532.16 million. On average, research analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

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.