Quantbot Technologies LP Takes $272,000 Position in Hesai Group Sponsored ADR $HSAI

Key Points

• Quantbot Technologies LP has invested approximately $272,000 in Hesai Group by acquiring 18,385 shares during the first quarter.
• Hesai Group reported a net margin of 4.00% and missed analyst EPS expectations significantly, posting only $0.04 EPS against a consensus of $0.76.
• Analysts have a consensus "Buy" rating for Hesai Group, with a price target averaging $28.74, while Jefferies and UBS issued price targets of $29.30 and $35.00, respectively.

Quantbot Technologies LP bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,385 shares of the company's stock, valued at approximately $272,000.

A number of other hedge funds have also recently bought and sold shares of HSAI. SBI Securities Co. Ltd. grew its holdings in 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 acquiring an additional 1,249 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Hesai Group in the 1st quarter valued at $42,000. Renaissance Technologies LLC acquired a new position in shares of Hesai Group in the 4th quarter valued at $138,000. Sovereign Financial Group Inc. acquired a new position in shares of Hesai Group in the 1st quarter valued at $148,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Hesai Group in the 1st quarter valued at $150,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Hesai Group Stock Down 2.9%

NASDAQ HSAI traded down $0.75 during trading on Tuesday, reaching $25.02. 1,648,353 shares of the company's stock were exchanged, compared to its average volume of 3,155,049. Hesai Group Sponsored ADR has a fifty-two week low of $3.56 and a fifty-two week high of $27.94. The firm has a market capitalization of $3.28 billion, a PE ratio of 278.00 and a beta of 1.14. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $22.59 and its 200-day simple moving average is $19.33.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced 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). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Sell-side analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS 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.