The Manufacturers Life Insurance Company trimmed its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 62.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,870 shares of the company's stock after selling 471,227 shares during the period. The Manufacturers Life Insurance Company owned about 0.20% of Hesai Group worth $5,313,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position 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 purchasing an additional 961,493 shares in the last quarter. Federated Hermes Inc. purchased a new position in Hesai Group in the 2nd quarter worth approximately $156,000. Daiwa Securities Group Inc. bought a new position in Hesai Group in the 2nd quarter worth approximately $108,000. Qube Research & Technologies Ltd bought a new position in Hesai Group in the 2nd quarter worth approximately $368,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Hesai Group during the 2nd quarter valued at approximately $4,521,000. Hedge funds and other institutional investors own 48.53% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Hesai Group from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Hesai Group in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $31.50.
Read Our Latest Analysis on HSAI
Hesai Group Stock Performance
Hesai Group stock opened at $17.75 on Friday. The company's 50-day moving average price is $16.99 and its 200-day moving average price is $21.27. The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.48 billion, a PE ratio of 40.34, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37. Hesai Group Sponsored ADR has a twelve month low of $14.29 and a twelve month high of $30.85.
Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The firm had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. On average, equities research analysts forecast that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.
Hesai Group Company Profile
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Free Report)
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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