MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 13,908 Shares of Hesai Group (NASDAQ:HSAI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Hesai Group (NASDAQ:HSAI) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,149,590 shares of the company’s stock after selling 13,908 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Hesai Group were worth $15,887,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Hesai Group during the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC purchased a new position in Hesai Group during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. bought a new position in Hesai Group during the fourth quarter valued at $168,000. Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group in the fourth quarter valued at $177,000. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Hesai Group in the fourth quarter valued at $387,000. Institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th.

Hesai Group Stock Down 2.6%

NASDAQ:HSAI opened at $17.36 on Friday. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -39.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. Hesai Group has a twelve month low of $3.52 and a twelve month high of $24.18. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $13.70.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.