Graham Capital Management L.P. bought a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 204,871 shares of the company’s stock, valued at approximately $4,589,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Group AG grew its position in shares of Hesai Group by 32.6% in the 4th quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock worth $27,286,000 after buying an additional 299,195 shares during the period. Vanguard Group Inc. boosted its stake in Hesai Group by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after purchasing an additional 629,680 shares in the last quarter. M&T Bank Corp bought a new position in Hesai Group in the 4th quarter worth about $2,904,000. Long Corridor Asset Management Ltd bought a new position in Hesai Group in the 3rd quarter worth about $2,810,000. Finally, Persistent Asset Partners Ltd bought a new position in Hesai Group in the 3rd quarter worth about $1,215,000. 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 $17.14 on Wednesday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 0.72 and a beta of 1.34. The firm’s 50-day moving average is $21.17 and its 200 day moving average is $22.97. Hesai Group Sponsored ADR has a 1 year low of $14.69 and a 1 year 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.
Analyst Ratings Changes
HSAI has been the topic of a number of analyst reports. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. BNP Paribas Exane initiated coverage on shares of Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen cut shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Hesai Group has an average rating of “Buy” and an average price target of $30.13.
Check Out Our Latest Stock Analysis on Hesai Group
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.
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