Y Intercept Hong Kong Ltd Makes New $1.50 Million Investment in Hesai Group Sponsored ADR $HSAI

Y Intercept Hong Kong Ltd purchased a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 2nd quarter, Holdings Channel reports. The firm purchased 68,350 shares of the company’s stock, valued at approximately $1,500,000.

Several other hedge funds also recently bought and sold shares of HSAI. SBI Securities Co. Ltd. increased its position in Hesai Group by 138.6% during the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock worth $32,000 after buying an additional 1,249 shares in the last quarter. Bessemer Group Inc. purchased a new position in Hesai Group during the second quarter worth $33,000. JTC Employer Solutions Trustee Ltd increased its position in Hesai Group by 117.6% during the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after buying an additional 3,368 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Hesai Group during the first quarter worth $150,000. Finally, Advisors Asset Management Inc. purchased a new position in Hesai Group during the first quarter worth $226,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on HSAI shares. The Goldman Sachs Group raised their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. UBS Group initiated coverage on Hesai Group in a report on Tuesday, August 19th. They set a “buy” rating and a $35.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Hesai Group in a report on Wednesday, October 8th. Finally, Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $23.00 to $26.00 in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Hesai Group currently has an average rating of “Buy” and an average target price of $32.26.

Hesai Group Price Performance

Shares of Hesai Group stock opened at $23.73 on Monday. Hesai Group Sponsored ADR has a twelve month low of $4.02 and a twelve month high of $30.85. The stock has a market capitalization of $3.11 billion, a P/E ratio of 263.67 and a beta of 1.15. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $26.16 and its 200 day moving average price is $22.15.

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

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.