Wellington Management Group LLP Sells 1,440,456 Shares of Hesai Group Sponsored ADR $HSAI

Wellington Management Group LLP reduced its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 90.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 158,397 shares of the company’s stock after selling 1,440,456 shares during the period. Wellington Management Group LLP’s holdings in Hesai Group were worth $2,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HSAI. First Trust Bank Ltd. purchased a new position in Hesai Group during the second quarter valued at $1,650,641. Handelsbanken Fonder AB purchased a new position in shares of Hesai Group during the second quarter valued at about $456,000. Sapient Capital LLC bought a new stake in shares of Hesai Group in the first quarter worth about $13,574,000. Liontrust Investment Partners LLP increased its holdings in shares of Hesai Group by 21.0% in the first quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company’s stock worth $3,149,000 after purchasing an additional 28,548 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Hesai Group in the first quarter worth about $11,185,000. Institutional investors own 48.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HSAI shares. Wall Street Zen cut Hesai Group from a “sell” rating to a “strong sell” rating in a report on Sunday, August 30th. Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hesai Group presently has an average rating of “Buy” and an average target price of $29.75.

Hesai Group Stock Down 4.9%

Shares of NASDAQ:HSAI opened at $17.40 on Friday. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. Hesai Group Sponsored ADR has a 12 month low of $14.29 and a 12 month high of $30.85. The company has a 50-day moving average price of $17.15 and a 200 day moving average price of $19.86. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 0.80 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The company had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.00 million. As a group, equities research analysts predict that Hesai Group Sponsored ADR will post 0.61 earnings per share for the current year.

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.