Fosun International Ltd Takes $3.14 Million Position in Hesai Group Sponsored ADR $HSAI

Fosun International Ltd bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 111,608 shares of the company’s stock, valued at approximately $3,136,000. Hesai Group comprises 1.2% of Fosun International Ltd’s investment portfolio, making the stock its 6th biggest holding. Fosun International Ltd owned approximately 0.09% of Hesai Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in Hesai Group by 2.8% in the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after purchasing an additional 631 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Hesai Group by 4.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after buying an additional 782 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Hesai Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after buying an additional 1,008 shares in the last quarter. Candriam S.C.A. grew its position in shares of Hesai Group by 3.6% in the 3rd quarter. Candriam S.C.A. now owns 72,000 shares of the company’s stock valued at $2,023,000 after buying an additional 2,500 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Hesai Group in the 3rd quarter valued at $71,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Price Performance

HSAI stock opened at $24.04 on Friday. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.37 billion, a P/E ratio of 57.24 and a beta of 1.06. The business has a 50 day simple moving average of $26.18 and a 200-day simple moving average of $24.47. Hesai Group Sponsored ADR has a twelve month low of $10.41 and a twelve month high of $30.85.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HSAI. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. CICC Research initiated coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Hesai Group presently has an average rating of “Buy” and an average target price of $29.96.

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.