Two Sigma Investments LP purchased a new stake in shares of Hesai Group (NASDAQ:HSAI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 512,566 shares of the company's stock, valued at approximately $7,084,000. Two Sigma Investments LP owned about 0.40% of Hesai Group at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in Hesai Group in the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC purchased a new position in shares of Hesai Group during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Hesai Group in the fourth quarter valued at $168,000. Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group in the 4th quarter valued at $177,000. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Hesai Group in the 4th quarter valued at $387,000. 48.53% of the stock is owned by hedge funds and other institutional investors.
Hesai Group Stock Down 4.6%
Shares of HSAI stock traded down $0.94 during trading hours on Friday, reaching $19.22. 1,916,692 shares of the stock were exchanged, compared to its average volume of 2,746,285. The business's fifty day moving average is $16.35 and its two-hundred day moving average is $14.80. The firm has a market capitalization of $2.52 billion, a P/E ratio of -43.73, a P/E/G ratio of 1.44 and a beta of 1.18. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.
Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.11. The firm had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. As a group, research analysts expect that Hesai Group will post -0.14 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target for the company.
Read Our Latest Analysis on HSAI
About Hesai Group
(
Free Report)
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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