1,365,740 Shares in Hesai Group Sponsored ADR $HSAI Purchased by Aberdeen Group plc

Aberdeen Group plc purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,365,740 shares of the company’s stock, valued at approximately $38,241,000. Aberdeen Group plc owned approximately 1.04% of Hesai Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. bought a new position in shares of Hesai Group during the 2nd quarter valued at about $33,000. Daiwa Securities Group Inc. purchased a new stake in Hesai Group in the second quarter worth $108,000. Federated Hermes Inc. purchased a new stake in shares of Hesai Group in the 2nd quarter worth about $156,000. Redwood Wealth Management Group LLC bought a new position in shares of Hesai Group in the 3rd quarter worth approximately $223,000. Finally, Vident Advisory LLC purchased a new position in Hesai Group during the second quarter valued at $279,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

Shares of HSAI stock opened at $25.75 on Tuesday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 61.31 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. Hesai Group Sponsored ADR has a 52-week low of $10.41 and a 52-week high of $30.85. The company’s 50 day moving average is $24.64 and its 200 day moving average is $24.08.

Analysts Set New Price Targets

HSAI has been the topic of a number of analyst reports. Macquarie Capit raised Hesai Group to a “strong-buy” rating in a research report on Tuesday, February 10th. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. CICC Research started coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $30.80.

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.