WT Asset Management Ltd Makes New $7.60 Million Investment in Hesai Group Sponsored ADR $HSAI

WT Asset Management Ltd acquired a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 346,389 shares of the company’s stock, valued at approximately $7,603,000. Hesai Group comprises 0.5% of WT Asset Management Ltd’s holdings, making the stock its 19th largest holding.

A number of other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of Hesai Group by 2,217.8% in the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock worth $1,656,000 after acquiring an additional 107,432 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Hesai Group by 345.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after buying an additional 961,493 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of Hesai Group in the 1st quarter worth approximately $946,000. Advisors Asset Management Inc. acquired a new position in shares of Hesai Group in the 1st quarter worth approximately $226,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Hesai Group in the 1st quarter worth approximately $2,972,000. Institutional investors own 48.53% of the company’s stock.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Jefferies Financial Group initiated coverage on Hesai Group in a report on Monday, June 9th. They issued a “buy” rating and a $29.30 target price for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Hesai Group in a report on Saturday, September 27th. UBS Group initiated coverage on Hesai Group in a report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.26.

Hesai Group Trading Down 1.0%

HSAI stock opened at $27.35 on Friday. The business has a fifty day moving average price of $25.61 and a 200 day moving average price of $20.87. Hesai Group Sponsored ADR has a fifty-two week low of $4.02 and a fifty-two week high of $30.85. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 303.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The business had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

About Hesai Group

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.