Fosun International Ltd Raises Holdings in Hesai Group Sponsored ADR $HSAI

Fosun International Ltd increased its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 31.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 146,423 shares of the company’s stock after acquiring an additional 34,815 shares during the period. Hesai Group makes up about 0.8% of Fosun International Ltd’s holdings, making the stock its 12th largest holding. Fosun International Ltd owned approximately 0.10% of Hesai Group worth $3,280,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its stake in Hesai Group by 37.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after purchasing an additional 746 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Hesai Group in the third quarter valued at $71,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hesai Group in the fourth quarter valued at $88,000. Leonteq Securities AG acquired a new stake in shares of Hesai Group in the fourth quarter valued at $106,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Hesai Group in the second quarter valued at $108,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Price Performance

Shares of NASDAQ:HSAI opened at $20.25 on Friday. The business’s 50 day simple moving average is $21.38 and its 200-day simple moving average is $22.93. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 0.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. Hesai Group Sponsored ADR has a 12 month low of $14.69 and a 12 month high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $98.71 million for the quarter, compared to analyst estimates of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. As a group, equities analysts forecast that Hesai Group Sponsored ADR will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of analyst reports. BNP Paribas Exane assumed coverage on Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating on the stock. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Finally, Wall Street Zen raised Hesai Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and a consensus target price of $29.96.

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.