Hesai Group Sponsored ADR $HSAI Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 47.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,081,960 shares of the company’s stock after selling 986,935 shares during the quarter. Citigroup Inc. owned 0.82% of Hesai Group worth $30,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Persistent Asset Partners Ltd purchased a new stake in shares of Hesai Group during the 3rd quarter worth approximately $1,215,000. Vanguard Group Inc. raised its holdings in Hesai Group by 18.3% during the third quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after purchasing an additional 629,680 shares during the last quarter. Aberdeen Group plc purchased a new stake in Hesai Group during the third quarter worth $38,241,000. Navellier & Associates Inc. grew its holdings in Hesai Group by 31.9% in the third quarter. Navellier & Associates Inc. now owns 84,978 shares of the company’s stock valued at $2,388,000 after purchasing an additional 20,568 shares during the last quarter. Finally, Candriam S.C.A. increased its position in shares of Hesai Group by 3.6% in the third quarter. Candriam S.C.A. now owns 72,000 shares of the company’s stock valued at $2,023,000 after buying an additional 2,500 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of HSAI opened at $26.98 on Thursday. Hesai Group Sponsored ADR has a 1 year low of $10.41 and a 1 year high of $30.85. The company’s 50 day simple moving average is $25.57 and its 200 day simple moving average is $24.37. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 64.24 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HSAI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research 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 target on the stock. Finally, Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $30.80.

Hesai Group Company 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.