Trexquant Investment LP Acquires 28,368 Shares of Hesai Group Sponsored ADR $HSAI

Key Points

• Trexquant Investment LP increased its stake in Hesai Group by 23.5% during the first quarter, reaching a total of 149,025 shares, valued at approximately $2.2 million.
• Hesai Group's stock price is currently at $26.41, with a 12-month low of $3.56 and a high of $27.94; the company reported a significant earnings miss this quarter.
• Multiple analysts have issued a buy rating for Hesai Group, with a consensus target price of $28.74, highlighting strong growth expectations for the company.

Trexquant Investment LP increased its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) by 23.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,025 shares of the company's stock after acquiring an additional 28,368 shares during the quarter. Trexquant Investment LP owned about 0.11% of Hesai Group worth $2,206,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HSAI. Hsbc Holdings PLC bought a new position in Hesai Group in the 4th quarter valued at about $159,000. BNP Paribas Financial Markets bought a new position in Hesai Group in the 4th quarter valued at about $1,000,000. Bank of America Corp DE increased its holdings in Hesai Group by 2,015.6% in the 4th quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock valued at $2,300,000 after buying an additional 158,590 shares during the period. Diker Management LLC bought a new position in Hesai Group in the 4th quarter valued at about $1,241,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Hesai Group in the 4th quarter valued at about $9,265,000. 48.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hesai Group Stock Down 3.6%

Shares of Hesai Group stock traded down $1.05 during trading on Wednesday, reaching $27.74. 3,052,282 shares of the company traded hands, compared to its average volume of 3,429,117. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. Hesai Group Sponsored ADR has a 1-year low of $3.70 and a 1-year high of $30.44. The company has a 50 day moving average price of $23.31 and a 200-day moving average price of $19.69. The firm has a market capitalization of $3.64 billion, a PE ratio of 308.22 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. As a group, equities research analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share 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.