Navellier & Associates Inc. Raises Position in Hesai Group Sponsored ADR $HSAI

Navellier & Associates Inc. raised its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 31.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,978 shares of the company’s stock after purchasing an additional 20,568 shares during the quarter. Navellier & Associates Inc.’s holdings in Hesai Group were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in HSAI. SG Americas Securities LLC lifted its position in shares of Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after acquiring an additional 631 shares during the period. Franklin Resources Inc. raised its stake in Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock valued at $429,000 after purchasing an additional 782 shares during the last quarter. Main Management ETF Advisors LLC raised its position in shares of Hesai Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after buying an additional 1,008 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Hesai Group during the 2nd quarter worth $33,000. Finally, Candriam S.C.A. boosted its stake in Hesai Group by 3.6% in the 3rd quarter. Candriam S.C.A. now owns 72,000 shares of the company’s stock worth $2,023,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Down 0.2%

Shares of NASDAQ HSAI opened at $25.96 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. Hesai Group Sponsored ADR has a 1 year low of $10.41 and a 1 year high of $30.85. The stock’s 50-day simple moving average is $24.00 and its 200-day simple moving average is $23.88. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 61.81 and a beta of 1.14.

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

Analyst Ratings Changes

HSAI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Hesai Group presently has an average rating of “Buy” and an average price target 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.