Empowered Funds LLC Purchases New Holdings in Hesai Group Sponsored ADR $HSAI

Empowered Funds LLC acquired a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the first quarter, HoldingsChannel reports. The fund acquired 584,999 shares of the company’s stock, valued at approximately $11,185,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after purchasing an additional 430 shares in the last quarter. Main Management ETF Advisors LLC grew its position in shares of Hesai Group by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after buying an additional 512 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after buying an additional 725 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Hesai Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after buying an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after buying an additional 746 shares during the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hesai Group in a research note on Friday, July 24th. Wall Street Zen raised shares of Hesai Group from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.50.

Hesai Group Trading Up 1.3%

Shares of NASDAQ HSAI opened at $16.55 on Friday. The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $17.28 and its two-hundred day moving average price is $21.61. Hesai Group Sponsored ADR has a 52-week low of $14.29 and a 52-week high of $30.85. The stock has a market capitalization of $2.32 billion, a P/E ratio of 37.61, a PEG ratio of 0.63 and a beta of 1.35.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The company had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. On average, analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal 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.