State of New Jersey Common Pension Fund D acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,576 shares of the company’s stock, valued at approximately $551,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HSAI. Vanguard Group Inc. grew its holdings in shares of Hesai Group by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock valued at $114,601,000 after acquiring an additional 629,680 shares in the last quarter. UBS Group AG raised its holdings in shares of Hesai Group by 32.6% during the fourth quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock worth $27,286,000 after acquiring an additional 299,195 shares in the last quarter. Long Corridor Asset Management Ltd acquired a new stake in Hesai Group during the third quarter valued at $2,810,000. Allianz Asset Management GmbH boosted its position in Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after purchasing an additional 584,468 shares during the last quarter. Finally, Robeco Schweiz AG grew its stake in Hesai Group by 131.8% in the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock valued at $24,756,000 after purchasing an additional 501,000 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.
Hesai Group Trading Up 0.9%
NASDAQ:HSAI opened at $21.80 on Tuesday. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $22.61 and its 200-day moving average is $23.09. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 54.50 and a beta of 1.50. Hesai Group Sponsored ADR has a 12 month low of $14.69 and a 12 month high of $30.85.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on HSAI. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Wall Street Zen raised Hesai Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, BNP Paribas Exane began coverage on Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.96.
Check Out Our Latest Stock Report on HSAI
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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