Regal Partners Ltd Invests $1.79 Million in Hesai Group Sponsored ADR $HSAI

Key Points

• Regal Partners Ltd bought 63,721 shares of Hesai (NASDAQ:HSAI) in Q3 — a position worth about $1.79 million — and several large institutions (Vanguard, Allianz, Aberdeen, Goldman Sachs, Bank of America) also materially increased or initiated stakes, leaving institutional ownership at roughly 48.53%.
• Analyst sentiment is broadly positive with a consensus rating of "Buy" and a consensus target of $30.80 after recent upgrades (including Sanford C. Bernstein's "strong-buy" and CICC's "outperform"); the stock trades near $23.86 with a market cap of about $3.34 billion and a P/E of 56.8.

Regal Partners Ltd purchased a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 63,721 shares of the company's stock, valued at approximately $1,791,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Hesai Group by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company's stock valued at $114,601,000 after purchasing an additional 629,680 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Hesai Group by 29.1% in the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company's stock valued at $72,912,000 after buying an additional 584,468 shares in the last quarter. Aberdeen Group plc acquired a new stake in Hesai Group in the third quarter valued at approximately $38,241,000. Goldman Sachs Group Inc. grew its stake in shares of Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after buying an additional 961,493 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Hesai Group by 14.2% during the second quarter. Bank of America Corp DE now owns 1,208,332 shares of the company's stock worth $26,523,000 after buying an additional 150,022 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HSAI has been the subject of a number of research reports. CICC Research initiated coverage on Hesai Group in a research note on Tuesday, November 25th. They issued an "outperform" rating and a $23.50 price target for the company. Sanford C. Bernstein upgraded Hesai Group to a "strong-buy" rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hesai Group in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.80.

Hesai Group Price Performance

Hesai Group stock opened at $23.86 on Friday. The stock's 50 day moving average is $25.99 and its 200 day moving average is $24.44. Hesai Group Sponsored ADR has a one year low of $10.41 and a one year high of $30.85. The firm has a market cap of $3.34 billion, a P/E ratio of 56.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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