China Universal Asset Management Co. Ltd. Has $439,000 Stock Position in Hesai Group Sponsored ADR $HSAI

China Universal Asset Management Co. Ltd. lowered its stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 68.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,000 shares of the company’s stock after selling 43,000 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Hesai Group were worth $439,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Hesai Group in the 1st quarter valued at $25,997,000. Goldman Sachs Group Inc. increased its holdings in Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Norges Bank acquired a new stake in shares of Hesai Group in the 2nd quarter valued at about $20,619,000. Allianz Asset Management GmbH lifted its holdings in shares of Hesai Group by 78.2% in the second quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after purchasing an additional 882,180 shares in the last quarter. Finally, Trivest Advisors Ltd bought a new stake in shares of Hesai Group in the second quarter valued at about $17,769,000. Institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 8th. UBS Group initiated coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $30.80.

Hesai Group Stock Up 0.1%

Shares of HSAI stock opened at $20.47 on Monday. Hesai Group Sponsored ADR has a 52-week low of $10.01 and a 52-week high of $30.85. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 48.74 and a beta of 1.22. The firm’s 50-day moving average is $21.37 and its 200-day moving average is $22.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. Sell-side analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Hesai Group 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.