43,226 Shares in Hesai Group Sponsored ADR $HSAI Purchased by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 43,226 shares of the company’s stock, valued at approximately $1,215,000.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Hesai Group by 696.6% during the 3rd quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after purchasing an additional 163,310 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Hesai Group by 29.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after acquiring an additional 584,468 shares in the last quarter. Trivest Advisors Ltd bought a new stake in Hesai Group during the 2nd quarter worth approximately $17,769,000. Robeco Schweiz AG increased its holdings in Hesai Group by 131.8% during the 3rd quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock valued at $24,756,000 after purchasing an additional 501,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Hesai Group in the 2nd quarter valued at $1,500,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Trading Up 2.2%

HSAI opened at $28.12 on Friday. The firm has a 50 day simple moving average of $25.07 and a 200 day simple moving average of $24.19. Hesai Group Sponsored ADR has a fifty-two week low of $10.41 and a fifty-two week high of $30.85. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 66.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HSAI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, CICC Research initiated coverage on shares of Hesai Group in a research note on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Hesai Group has a consensus 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.