Quantbot Technologies LP Invests $272,000 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 acquired 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 and Exchange Commission (SEC). The firm acquired 18,385 shares of the company's stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. raised its stake in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after purchasing an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Hesai Group during the 1st quarter worth about $42,000. Renaissance Technologies LLC acquired a new position in shares of Hesai Group during the fourth quarter valued at about $138,000. Sovereign Financial Group Inc. bought a new stake in shares of Hesai Group in the first quarter valued at about $148,000. Finally, Russell Investments Group Ltd. acquired a new stake in Hesai Group during the first quarter worth about $150,000. Institutional investors own 48.53% of the company's stock.

Hesai Group Trading Down 2.5%

HSAI stock opened at $26.00 on Thursday. Hesai Group Sponsored ADR has a 1-year low of $3.56 and a 1-year high of $27.94. 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 business's 50 day moving average is $22.03 and its 200-day moving average is $19.09. The firm has a market cap of $3.41 billion, a P/E ratio of 288.89 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced 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 company had revenue of $98.61 million during the quarter, compared to analyst estimates of $846.98 million. Equities analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Jefferies Financial Group assumed coverage on Hesai Group in a 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 upped their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Finally, UBS Group initiated coverage on Hesai Group in a research report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, Hesai Group currently has a consensus rating of "Buy" and a consensus price target of $28.74.

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.

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