40,000 Hesai Group Sponsored ADR $HSAI Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd trimmed its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,974 shares of the company’s stock after selling 40,000 shares during the quarter. Hesai Group makes up approximately 1.1% of Maxi Investments CY Ltd’s investment portfolio, making the stock its 21st biggest holding. Maxi Investments CY Ltd owned about 0.25% of Hesai Group worth $6,236,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HSAI. Bessemer Group Inc. raised its stake in shares of Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after acquiring an additional 725 shares in the last quarter. Blue Trust Inc. acquired a new stake in Hesai Group in the 1st quarter worth approximately $51,000. Summit Securities Group LLC purchased a new stake in Hesai Group during the 1st quarter worth approximately $56,000. Squarepoint Ops LLC grew its position in Hesai Group by 13.7% during the 2nd quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock worth $579,000 after purchasing an additional 3,822 shares during the last quarter. Finally, Leonteq Securities AG grew its position in Hesai Group by 107.9% during the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock worth $188,000 after purchasing an additional 5,104 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on HSAI. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.50.

Hesai Group Stock Up 4.3%

Shares of HSAI stock opened at $13.69 on Tuesday. The stock has a 50 day moving average of $16.31 and a 200 day moving average of $20.24. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.92 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.20 and a beta of 1.36. Hesai Group Sponsored ADR has a twelve month low of $12.00 and a twelve month high of $29.35.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. As a group, sell-side analysts expect that Hesai Group Sponsored ADR will post 0.45 EPS for the current year.

Hesai Group Profile

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.