Vanguard Group Inc. bought a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,756,523 shares of the company's stock, valued at approximately $25,997,000. Vanguard Group Inc. owned approximately 1.34% of Hesai Group as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. J. Safra Sarasin Holding AG purchased a new stake in Hesai Group in the 1st quarter valued at $1,925,000. Navellier & Associates Inc. purchased a new stake in Hesai Group in the 1st quarter valued at $940,000. Allianz Asset Management GmbH purchased a new stake in Hesai Group in the 1st quarter valued at $16,696,000. SBI Securities Co. Ltd. raised its position in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after buying an additional 1,249 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Hesai Group by 43.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company's stock valued at $932,000 after buying an additional 19,000 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on HSAI shares. Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $23.00 to $26.00 in a research report on Monday, July 28th. Jefferies Financial Group started coverage on Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price target for the company. Finally, UBS Group started coverage on Hesai Group in a research report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $28.74.
View Our Latest Analysis on HSAI
Hesai Group Stock Performance
Shares of Hesai Group stock traded up $0.82 during trading hours on Wednesday, hitting $25.84. 2,054,601 shares of the company's stock traded hands, compared to its average volume of 3,155,049. Hesai Group Sponsored ADR has a 12-month low of $3.56 and a 12-month high of $27.94. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 287.11 and a beta of 1.14. The company has a fifty day simple moving average of $22.72 and a 200-day simple moving average of $19.37. 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 (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The business had revenue of $98.61 million for the quarter, compared to analysts' expectations of $846.98 million. Equities research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.
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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