Eschler Asset Management LLP Sells 174,900 Shares of Hesai Group Sponsored ADR $HSAI

Eschler Asset Management LLP cut its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 85.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,700 shares of the company’s stock after selling 174,900 shares during the period. Hesai Group accounts for 0.6% of Eschler Asset Management LLP’s holdings, making the stock its 25th biggest holding. Eschler Asset Management LLP’s holdings in Hesai Group were worth $863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HSAI. Aberdeen Group plc bought a new stake in shares of Hesai Group during the third quarter valued at approximately $38,241,000. Goldman Sachs Group Inc. grew its stake in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after acquiring an additional 961,493 shares in the last quarter. Norges Bank purchased a new position in Hesai Group during the second quarter valued at $20,619,000. C WorldWide Group Holding A S bought a new stake in Hesai Group in the 3rd quarter valued at $22,905,000. Finally, UBS Group AG increased its holdings in Hesai Group by 232.0% in the 3rd quarter. UBS Group AG now owns 918,915 shares of the company’s stock valued at $25,822,000 after acquiring an additional 642,141 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Stock Down 5.2%

NASDAQ HSAI opened at $24.34 on Friday. 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 52 week low of $10.41 and a 52 week high of $30.85. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 57.95 and a beta of 1.06. The company has a fifty day moving average of $26.18 and a two-hundred day moving average of $24.46.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several research reports. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $29.96.

Hesai Group Company 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.