C WorldWide Group Holding A S Takes Position in Hesai Group Sponsored ADR $HSAI

C WorldWide Group Holding A S acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 815,117 shares of the company’s stock, valued at approximately $22,905,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Hesai Group by 2.8% during the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock worth $515,000 after buying an additional 631 shares during the last quarter. Franklin Resources Inc. increased its position in Hesai Group by 4.2% during the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after acquiring an additional 782 shares during the period. Main Management ETF Advisors LLC increased its position in Hesai Group by 1.6% during the second quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock worth $1,367,000 after acquiring an additional 1,008 shares during the period. Bessemer Group Inc. bought a new stake in Hesai Group in the 2nd quarter valued at $33,000. Finally, JTC Employer Solutions Trustee Ltd grew its position in Hesai Group by 117.6% in the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after purchasing an additional 3,368 shares during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Up 0.5%

Shares of HSAI opened at $24.09 on Thursday. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $23.63 and a two-hundred day moving average price of $23.78. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 57.36 and a beta of 1.14. Hesai Group Sponsored ADR has a 12 month low of $10.41 and a 12 month high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. Equities analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HSAI shares. CICC Research assumed coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hesai Group currently has an average rating of “Buy” and an average target price of $30.80.

About Hesai Group

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.