Robeco Institutional Asset Management B.V. Sells 30,171 Shares of Hesai Group Sponsored ADR $HSAI

Key Points

• Robeco Institutional Asset Management reduced its stake in Hesai Group by 16.1%, selling 30,171 shares, and now holds approximately 157,780 shares valued at $3,463,000.
• Hesai Group's stock has received multiple upgrades from analysts, with target prices raised by Morgan Stanley, Goldman Sachs, and UBS Group, indicating positive market sentiment.
• The company's recent earnings report revealed an EPS miss of $0.04 compared to the anticipated $0.76, and revenues of $98.61 million fell short of expectations, highlighting challenges in performance.

Robeco Institutional Asset Management B.V. trimmed its position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,780 shares of the company's stock after selling 30,171 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.12% of Hesai Group worth $3,463,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HSAI. SBI Securities Co. Ltd. boosted 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 valued at $32,000 after acquiring an additional 1,249 shares during the period. Russell Investments Group Ltd. bought a new stake in Hesai Group during the first quarter valued at about $150,000. Advisors Asset Management Inc. bought a new stake in Hesai Group during the first quarter valued at about $226,000. Quantbot Technologies LP bought a new stake in Hesai Group during the first quarter valued at about $272,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hesai Group in the first quarter valued at about $338,000. 48.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HSAI shares. Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th. The Goldman Sachs Group increased their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. UBS Group started coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They issued a "buy" rating and a $35.00 target price for the company. Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Hesai Group in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Hesai Group currently has an average rating of "Buy" and a consensus target price of $32.26.

Hesai Group Stock Down 1.0%

Shares of HSAI opened at $27.07 on Tuesday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 300.78 and a beta of 1.15. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06. Hesai Group Sponsored ADR has a 12 month low of $4.02 and a 12 month high of $30.85. The company has a 50-day moving average price of $25.71 and a two-hundred day moving average price of $20.94.

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 analysts' consensus estimates of $0.76 by ($0.72). The business had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Hesai Group had a return on equity of 3.11% and a net margin of 4.00%. Equities analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS 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.

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