Squarepoint Ops LLC Invests $327,000 in Hesai Group (NASDAQ:HSAI)

Squarepoint Ops LLC purchased a new position in shares of Hesai Group (NASDAQ:HSAI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 23,643 shares of the company’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lightspeed Management Company L.L.C. purchased a new stake in Hesai Group during the fourth quarter valued at about $110,560,000. JPMorgan Chase & Co. purchased a new position in Hesai Group in the fourth quarter valued at about $1,494,000. BNP Paribas Financial Markets purchased a new position in shares of Hesai Group during the 4th quarter valued at approximately $1,000,000. Robert Bosch GmbH bought a new position in Hesai Group during the 4th quarter valued at $105,768,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Hesai Group during the fourth quarter worth about $1,705,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. Daiwa America raised Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th.

Hesai Group Trading Up 2.1%

NASDAQ:HSAI opened at $20.00 on Friday. The stock has a market capitalization of $2.62 billion, a PE ratio of -45.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The business’s 50-day simple moving average is $16.66 and its 200-day simple moving average is $15.43. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week 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) last announced its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. The company had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. Sell-side analysts expect that Hesai Group will post -0.14 earnings per share for the current fiscal year.

About Hesai Group

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.