Y Intercept Hong Kong Ltd Makes New Investment in Hesai Group Sponsored ADR $HSAI

Y Intercept Hong Kong Ltd acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 68,350 shares of the company’s stock, valued at approximately $1,500,000. Y Intercept Hong Kong Ltd owned 0.05% of Hesai Group at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. lifted its position in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock worth $32,000 after acquiring an additional 1,249 shares during the period. Bessemer Group Inc. acquired a new stake in Hesai Group during the 2nd quarter worth approximately $33,000. JTC Employer Solutions Trustee Ltd lifted its position in Hesai Group by 117.6% during the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after acquiring an additional 3,368 shares during the period. Sovereign Financial Group Inc. lifted its position in Hesai Group by 94.2% during the 2nd quarter. Sovereign Financial Group Inc. now owns 19,425 shares of the company’s stock worth $426,000 after acquiring an additional 9,424 shares during the period. Finally, Russell Investments Group Ltd. purchased a new position in shares of Hesai Group during the 1st quarter worth approximately $150,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Hesai Group in a research note on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. UBS Group initiated coverage on Hesai Group in a research note on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price for the company. Finally, Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and increased their target price 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, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Hesai Group has an average rating of “Buy” and an average target price of $32.26.

Hesai Group Stock Performance

NASDAQ HSAI opened at $23.73 on Monday. Hesai Group Sponsored ADR has a 1-year low of $4.02 and a 1-year high of $30.85. The company has a market capitalization of $3.11 billion, a P/E ratio of 263.67 and a beta of 1.15. The business has a 50 day moving average price of $26.16 and a 200 day moving average price of $22.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $846.98 million. Sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS 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.