Russell Investments Group Ltd. Takes Position in Hesai Group Sponsored ADR $HSAI

Russell Investments Group Ltd. bought a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,840 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HSAI. SBI Securities Co. Ltd. lifted its stake in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Hesai Group during the first quarter valued at about $42,000. Renaissance Technologies LLC bought a new position in shares of Hesai Group during the fourth quarter valued at about $138,000. Sovereign Financial Group Inc. bought a new position in shares of Hesai Group during the first quarter valued at about $148,000. Finally, Hsbc Holdings PLC bought a new position in shares of Hesai Group during the fourth quarter valued at about $159,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley raised shares of Hesai Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $23.00 to $26.00 in a research report on Monday, July 28th. UBS Group began coverage on Hesai Group in a report on Tuesday, August 19th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Hesai Group in a research report on Monday, June 9th. They issued a “buy” rating and a $29.30 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $28.74.

Hesai Group Price Performance

Hesai Group stock opened at $25.02 on Wednesday. The business’s 50 day simple moving average is $22.59 and its 200 day simple moving average is $19.33. Hesai Group Sponsored ADR has a 12 month low of $3.56 and a 12 month high of $27.94. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 278.00 and a beta of 1.14. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The firm had revenue of $98.61 million during the quarter, compared to analysts’ expectations of $846.98 million. Sell-side analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Hesai Group Company 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.