Cvfg LLC Takes Position in Hesai Group Sponsored ADR $HSAI

Cvfg LLC acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 186,930 shares of the company’s stock, valued at approximately $3,574,000. Cvfg LLC owned 0.13% of Hesai Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group boosted its holdings in Hesai Group by 17,419.6% in the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after purchasing an additional 2,054,114 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Hesai Group by 8,076.3% during the 4th quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock worth $28,311,000 after buying an additional 1,248,436 shares during the last quarter. Norges Bank purchased a new stake in shares of Hesai Group during the 4th quarter valued at approximately $24,260,000. Goldman Sachs Group Inc. lifted its holdings in Hesai Group by 345.7% in 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 during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after acquiring an additional 901,370 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Down 7.6%

Hesai Group stock opened at $16.15 on Wednesday. The company has a market capitalization of $2.26 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. Hesai Group Sponsored ADR has a fifty-two week low of $14.40 and a fifty-two week high of $30.85. The firm has a 50 day moving average price of $19.48 and a 200 day moving average price of $22.60.

Hesai Group (NASDAQ:HSAI) last released 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 during 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%. Research analysts expect that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BNP Paribas Exane started coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Wall Street Zen lowered Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $30.12.

Hesai Group Profile

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.