US Bancorp DE Reduces Stock Position in Hesai Group Sponsored ADR $HSAI

US Bancorp DE reduced its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 47.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,887 shares of the company’s stock after selling 3,480 shares during the period. US Bancorp DE’s holdings in Hesai Group were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Hesai Group in the first quarter worth approximately $338,000. China Universal Asset Management Co. Ltd. grew its position in shares of Hesai Group by 43.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company’s stock valued at $932,000 after purchasing an additional 19,000 shares in the last quarter. Lightspeed Management Company L.L.C. purchased a new stake in shares of Hesai Group in the fourth quarter worth about $110,560,000. JPMorgan Chase & Co. bought a new position in Hesai Group during the fourth quarter valued at approximately $1,494,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Hesai Group during the 4th quarter valued at approximately $1,000,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Up 4.0%

NASDAQ HSAI opened at $26.62 on Tuesday. Hesai Group Sponsored ADR has a one year low of $3.56 and a one year high of $27.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 295.78 and a beta of 1.12. The company’s 50-day simple moving average is $21.28 and its two-hundred day simple moving average is $18.69.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.18%. The company had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Equities analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on HSAI. Jefferies Financial Group initiated 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. Morgan Stanley raised shares of Hesai Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Hesai Group has a consensus rating of “Buy” and an average price target of $27.18.

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.