Hesai Group Sponsored ADR $HSAI Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 78.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,010,276 shares of the company’s stock after acquiring an additional 882,180 shares during the period. Allianz Asset Management GmbH owned about 1.53% of Hesai Group worth $44,126,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HSAI. Citigroup Inc. grew its stake in shares of Hesai Group by 1,258.8% during the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company’s stock valued at $41,063,000 after acquiring an additional 2,570,347 shares in the last quarter. Vanguard Group Inc. acquired a new stake in shares of Hesai Group during the first quarter valued at about $25,997,000. Goldman Sachs Group Inc. grew its stake in shares of Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after acquiring an additional 961,493 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in shares of Hesai Group during the first quarter valued at about $11,079,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Hesai Group during the first quarter valued at about $6,232,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of NASDAQ HSAI opened at $22.45 on Friday. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $26.34 and its two-hundred day moving average price is $21.32. Hesai Group Sponsored ADR has a 52-week low of $4.02 and a 52-week high of $30.85. The stock has a market capitalization of $2.94 billion, a P/E ratio of 249.44 and a beta of 1.15.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million during the quarter, compared to the consensus estimate of $846.98 million. As a group, sell-side analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on HSAI. UBS Group began coverage on Hesai Group in a research note on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price target for the company. Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Monday, July 28th. The Goldman Sachs Group lifted their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hesai Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Hesai Group has a consensus rating of “Buy” and a consensus price target of $32.26.

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.