Main Management ETF Advisors LLC Cuts Stock Holdings in Hesai Group (NASDAQ:HSAI)

Main Management ETF Advisors LLC lowered its position in Hesai Group (NASDAQ:HSAI - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,848 shares of the company's stock after selling 16,256 shares during the quarter. Main Management ETF Advisors LLC owned about 0.14% of Hesai Group worth $2,499,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in HSAI. Lightspeed Management Company L.L.C. acquired a new stake in Hesai Group in the 4th quarter worth approximately $110,560,000. Robert Bosch GmbH acquired a new position in Hesai Group in the fourth quarter valued at about $105,768,000. Polunin Capital Partners Ltd grew its stake in Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company's stock worth $16,733,000 after purchasing an additional 183,417 shares in the last quarter. Millennium Management LLC acquired a new stake in Hesai Group in the fourth quarter valued at approximately $14,736,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Hesai Group in the fourth quarter valued at approximately $9,265,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Hesai Group Trading Up 4.3%

Shares of HSAI traded up $0.77 during trading hours on Monday, hitting $18.45. 2,826,628 shares of the stock traded hands, compared to its average volume of 2,603,967. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18. The business has a fifty day moving average of $16.27 and a 200-day moving average of $13.92. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.42 billion, a PE ratio of -41.88, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HSAI shares. Daiwa Capital Markets began coverage on Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price for the company. Daiwa America raised Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th.

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.