SG Americas Securities LLC Acquires 163,310 Shares of Hesai Group Sponsored ADR $HSAI

SG Americas Securities LLC increased its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 696.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,755 shares of the company’s stock after buying an additional 163,310 shares during the period. SG Americas Securities LLC owned 0.14% of Hesai Group worth $5,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. acquired a new position in shares of Hesai Group during the second quarter worth approximately $699,000. Acadian Asset Management LLC raised its position in Hesai Group by 2,217.8% in the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock worth $1,656,000 after purchasing an additional 107,432 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Hesai Group by 78.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after buying an additional 882,180 shares in the last quarter. Trivest Advisors Ltd acquired a new position in Hesai Group during the 2nd quarter worth $17,769,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Hesai Group in the 2nd quarter valued at $1,500,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Down 0.9%

NASDAQ HSAI opened at $27.37 on Friday. Hesai Group Sponsored ADR has a 12 month low of $10.41 and a 12 month high of $30.85. The stock has a 50-day simple moving average of $21.26 and a 200 day simple moving average of $23.23. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $3.59 billion, a PE ratio of 65.17 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.14. The company had revenue of $111.72 million during the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. Research analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HSAI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. CICC Research initiated coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective for the company. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Hesai Group currently has a consensus rating of “Buy” and a consensus target price of $30.80.

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.