Weiss Asset Management LP Buys Shares of 86,700 Hesai Group Sponsored ADR $HSAI

Key Points

• Weiss Asset Management initiated a 86,700-share position in Hesai Group, valued at approximately $1.66 million and representing 0.06% of the company. Institutional investors collectively own 48.53% of HSAI.
• Hesai reported quarterly earnings of $0.02 per share, exceeding the $0.01 consensus estimate, while revenue of $98.71 million also surpassed expectations.
• HSAI opened at $14.60, near its 52-week low of $14.29 and well below its 52-week high of $30.85. Analysts maintain a consensus “Buy” rating with an average price target of $30.12.

Weiss Asset Management LP purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 86,700 shares of the company's stock, valued at approximately $1,658,000. Weiss Asset Management LP owned 0.06% of Hesai Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of HSAI. Vanguard Group Inc. lifted its position in Hesai Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company's stock valued at $91,984,000 after purchasing an additional 28,102 shares during the last quarter. Schroder Investment Management Group grew its position in Hesai Group by 17,419.6% in the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company's stock worth $46,276,000 after purchasing an additional 2,054,114 shares during the last quarter. Wellington Management Group LLP grew its position in Hesai Group by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company's stock worth $42,303,000 after purchasing an additional 38,312 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company's stock valued at $36,397,000 after purchasing an additional 901,370 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company's stock valued at $41,647,000 after purchasing an additional 770,816 shares during the period. Institutional investors own 48.53% of the company's stock.

Hesai Group Price Performance

Shares of HSAI stock opened at $14.60 on Monday. Hesai Group Sponsored ADR has a 1 year low of $14.29 and a 1 year high of $30.85. The stock has a market cap of $2.04 billion, a PE ratio of 33.18, a price-to-earnings-growth ratio of 0.56 and a beta of 1.35. The business's fifty day moving average is $17.66 and its 200-day moving average is $21.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. Equities analysts expect that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Hesai Group from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Hesai Group in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Hesai Group has an average rating of "Buy" and a consensus price target of $30.12.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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