Mirae Asset Global Investments Co. Ltd. Buys 22,170 Shares of Hesai Group Sponsored ADR $HSAI

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,868 shares of the company’s stock after buying an additional 22,170 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Hesai Group worth $3,172,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HSAI. Bessemer Group Inc. acquired a new stake in Hesai Group during the second quarter worth approximately $33,000. Daiwa Securities Group Inc. bought a new position in shares of Hesai Group during the second quarter worth approximately $108,000. JTC Employer Solutions Trustee Ltd lifted its holdings in Hesai Group by 117.6% during the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after purchasing an additional 3,368 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Hesai Group during the 2nd quarter worth approximately $156,000. Finally, Redwood Wealth Management Group LLC bought a new stake in Hesai Group in the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Analyst Ratings Changes

HSAI has been the subject of a number of research reports. CICC Research started coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Finally, Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $30.80.

Hesai Group Trading Down 3.5%

Shares of Hesai Group stock opened at $23.04 on Tuesday. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. Hesai Group Sponsored ADR has a 12-month low of $10.41 and a 12-month high of $30.85. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 54.86 and a beta of 1.14. The firm’s 50-day moving average price is $23.45 and its two-hundred day moving average price is $23.76.

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

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.