Hesai Group Sponsored ADR $HSAI Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 2,217.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,276 shares of the company’s stock after acquiring an additional 107,432 shares during the period. Acadian Asset Management LLC owned about 0.09% of Hesai Group worth $1,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after buying an additional 961,493 shares during the period. Electron Capital Partners LLC acquired a new stake in Hesai Group in the first quarter worth $946,000. Advisors Asset Management Inc. acquired a new stake in Hesai Group in the first quarter worth $226,000. Nomura Holdings Inc. acquired a new stake in Hesai Group in the first quarter worth $2,972,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Hesai Group in the first quarter worth $6,232,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on HSAI. Jefferies Financial Group began coverage on Hesai Group in a research report on Monday, June 9th. They issued a “buy” rating and a $29.30 target price on the stock. UBS Group began coverage on Hesai Group in a research report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $26.00 in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Hesai Group currently has a consensus rating of “Buy” and a consensus target price of $28.74.

Hesai Group Stock Performance

Shares of HSAI stock opened at $29.80 on Wednesday. The stock has a 50-day simple moving average of $23.86 and a 200 day simple moving average of $20.01. Hesai Group Sponsored ADR has a fifty-two week low of $3.88 and a fifty-two week high of $30.44. The stock has a market capitalization of $3.91 billion, a P/E ratio of 331.11 and a beta of 1.14. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The firm had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. On average, sell-side analysts expect that Hesai Group Sponsored ADR 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.