Two Sigma Advisers LP Takes Position in Hesai Group (NASDAQ:HSAI)

Two Sigma Advisers LP bought a new position in shares of Hesai Group (NASDAQ:HSAI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,200 shares of the company's stock, valued at approximately $1,703,000. Two Sigma Advisers LP owned about 0.10% of Hesai Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HSAI. China Universal Asset Management Co. Ltd. boosted its position in shares of Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock worth $608,000 after acquiring an additional 14,500 shares during the last quarter. Polunin Capital Partners Ltd boosted its position in shares of Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company's stock worth $16,733,000 after acquiring an additional 183,417 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Hesai Group during the fourth quarter worth $177,000. JPMorgan Chase & Co. bought a new position in shares of Hesai Group during the fourth quarter worth $1,494,000. Finally, Geode Capital Management LLC boosted its position in shares of Hesai Group by 366.0% during the fourth quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock worth $659,000 after acquiring an additional 37,464 shares during the last quarter. Institutional investors own 48.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HSAI. Daiwa Capital Markets assumed coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price for the company. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.

Hesai Group Price Performance

Hesai Group stock traded up $1.06 during mid-day trading on Tuesday, reaching $19.71. 2,884,091 shares of the company's stock traded hands, compared to its average volume of 2,783,662. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -44.80, a PEG ratio of 1.44 and a beta of 1.18. The stock has a 50 day moving average of $16.42 and a two-hundred day moving average of $15.18. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. The business had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Equities analysts forecast that Hesai Group will post -0.14 earnings per share for the current year.

Hesai Group Profile

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.