Arrowpoint Investment Partners Singapore Pte. Ltd. Takes Position in Hesai Group Sponsored ADR $HSAI

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 65,733 shares of the company’s stock, valued at approximately $1,847,000. Hesai Group makes up 1.8% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s investment portfolio, making the stock its 13th largest position. Arrowpoint Investment Partners Singapore Pte. Ltd. owned approximately 0.05% of Hesai Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Hesai Group in the 3rd quarter valued at about $71,000. Daiwa Securities Group Inc. acquired a new position in Hesai Group in the second quarter worth about $108,000. Quantbot Technologies LP bought a new stake in Hesai Group in the third quarter valued at about $123,000. Federated Hermes Inc. bought a new stake in Hesai Group in the second quarter valued at about $156,000. Finally, Redwood Wealth Management Group LLC bought a new position in Hesai Group during the 3rd quarter worth approximately $223,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Trading Down 1.2%

Hesai Group stock opened at $24.04 on Friday. Hesai Group Sponsored ADR has a 52 week low of $10.41 and a 52 week high of $30.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 57.24 and a beta of 1.06. The company has a 50 day moving average price of $26.18 and a 200 day moving average price of $24.47.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HSAI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. CICC Research assumed coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $29.96.

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.