Robeco Institutional Asset Management B.V. Purchases 32,760 Shares of Hesai Group Sponsored ADR $HSAI

Robeco Institutional Asset Management B.V. increased its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 190,540 shares of the company’s stock after acquiring an additional 32,760 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.15% of Hesai Group worth $5,354,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its stake 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 worth $44,126,000 after purchasing an additional 882,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Hesai Group by 345.7% in the 1st 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. Bank of America Corp DE grew its stake in Hesai Group by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,208,332 shares of the company’s stock valued at $26,523,000 after buying an additional 150,022 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Hesai Group by 24.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock valued at $25,277,000 after acquiring an additional 224,381 shares during the period. Finally, Norges Bank bought a new stake in Hesai Group during the 2nd quarter valued at $20,619,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSAI has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. Finally, Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.80.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $27.37 on Friday. The stock has a market cap of $3.59 billion, a P/E ratio of 65.17 and a beta of 1.14. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $21.26 and its two-hundred day moving average price is $23.23. Hesai Group Sponsored ADR has a twelve month low of $10.41 and a twelve month high of $30.85.

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

Hesai Group Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.