Independent Advisor Alliance Takes $2.89 Million Position in Hesai Group Sponsored ADR (NASDAQ:HSAI)

Independent Advisor Alliance acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 195,290 shares of the company’s stock, valued at approximately $2,890,000. Independent Advisor Alliance owned about 0.15% of Hesai Group at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. SBI Securities Co. Ltd. boosted its holdings in shares of Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Hesai Group in the 1st quarter valued at $42,000. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at $138,000. Sovereign Financial Group Inc. purchased a new stake in shares of Hesai Group in the 1st quarter valued at $148,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at $159,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

HSAI opened at $22.29 on Tuesday. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -743.00 and a beta of 1.12. Hesai Group Sponsored ADR has a 52-week low of $3.52 and a 52-week high of $24.65. The firm’s fifty day simple moving average is $20.84 and its two-hundred day simple moving average is $18.37.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. The business had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. Equities analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HSAI shares. Morgan Stanley upgraded shares of Hesai Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a “buy” rating and a $29.30 target price for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.18.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.