86,700 Shares in Hesai Group Sponsored ADR $HSAI Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 86,700 shares of the company’s stock, valued at approximately $1,658,000.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. grew its position in Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares in the last quarter. Blue Trust Inc. bought a new position in Hesai Group during the first quarter valued at approximately $51,000. Summit Securities Group LLC bought a new position in shares of Hesai Group during the 1st quarter valued at $56,000. SBI Securities Co. Ltd. lifted its position in shares of Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after buying an additional 746 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Hesai Group in the 3rd quarter worth approximately $71,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

Shares of Hesai Group stock opened at $14.60 on Monday. The firm has a 50 day simple moving average of $17.66 and a 200 day simple moving average of $21.93. The firm has a market cap of $2.04 billion, a P/E ratio of 33.18, a P/E/G ratio of 0.56 and a beta of 1.35. Hesai Group Sponsored ADR has a fifty-two week low of $14.29 and a fifty-two week high of $30.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. Sell-side analysts predict that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HSAI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Hesai Group from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hesai Group in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Hesai Group presently has a consensus rating of “Buy” and an average price target of $30.12.

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.