Broad Peak Investment Advisers Pte Ltd Makes New Investment in Hesai Group Sponsored ADR $HSAI

Broad Peak Investment Advisers Pte Ltd acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 865,000 shares of the company’s stock, valued at approximately $16,539,000. Hesai Group comprises 3.4% of Broad Peak Investment Advisers Pte Ltd’s holdings, making the stock its 11th biggest position. Broad Peak Investment Advisers Pte Ltd owned approximately 0.62% of Hesai Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in shares of Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after acquiring an additional 430 shares during the period. Main Management ETF Advisors LLC boosted its stake in Hesai Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after purchasing an additional 512 shares during the period. Royal Bank of Canada boosted its stake in Hesai Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after purchasing an additional 726 shares during the period. SBI Securities Co. Ltd. grew its position in Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after purchasing an additional 746 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in Hesai Group by 9.7% during the 4th quarter. Vontobel Holding Ltd. now owns 23,957 shares of the company’s stock worth $537,000 after purchasing an additional 2,123 shares during the last quarter. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $15.76 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. The firm’s fifty day moving average price is $20.02 and its 200 day moving average price is $22.75. Hesai Group Sponsored ADR has a 1-year low of $14.40 and a 1-year high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The company had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. On average, sell-side analysts expect that Hesai Group Sponsored ADR will post 0.66 EPS for the current year.

Analyst Ratings Changes

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

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.