Virtu Financial LLC Acquires Shares of 59,488 Hesai Group Sponsored ADR (NASDAQ:HSAI)

Key Points

• Virtu Financial LLC purchased approximately $880,000 worth of Hesai Group Sponsored ADR shares, acquiring 59,488 shares in the first quarter.
• Analysts remain optimistic about Hesai Group, with Jefferies Financial Group initiating coverage with a "buy" rating and a price target of $29.30, while Morgan Stanley raised its price target from $23.00 to $26.00.
• Hesai Group recorded a net loss of $0.02 EPS for the last quarter, which was better than analysts' expectations, but reported revenue of $72.39 million, significantly below the anticipated $532.16 million.

Virtu Financial LLC acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 59,488 shares of the company's stock, valued at approximately $880,000.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its stake in shares of Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after purchasing an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in Hesai Group during the first quarter valued at $42,000. Renaissance Technologies LLC bought a new stake in Hesai Group during the fourth quarter valued at $138,000. Sovereign Financial Group Inc. bought a new stake in Hesai Group during the first quarter valued at $148,000. Finally, Hsbc Holdings PLC bought a new stake in Hesai Group during the fourth quarter valued at $159,000. Institutional investors own 48.53% of the company's stock.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $23.00 to $26.00 in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $27.18.

Hesai Group Stock Up 9.7%

Shares of NASDAQ HSAI traded up $2.27 during trading on Friday, hitting $25.59. 11,775,280 shares of the company traded hands, compared to its average volume of 4,270,202. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. Hesai Group Sponsored ADR has a fifty-two week low of $3.56 and a fifty-two week high of $27.77. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -853.00 and a beta of 1.12. The business's fifty day moving average is $21.15 and its 200 day moving average is $18.58.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The business had revenue of $98.61 million for the quarter. Equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal 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.