Allianz Asset Management GmbH Raises Holdings in Hesai Group Sponsored ADR $HSAI

Allianz Asset Management GmbH increased its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,594,744 shares of the company’s stock after acquiring an additional 584,468 shares during the quarter. Allianz Asset Management GmbH’s holdings in Hesai Group were worth $72,912,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSAI. Vontobel Holding Ltd. bought a new position in Hesai Group in the 2nd quarter worth approximately $699,000. SG Americas Securities LLC lifted its position in shares of Hesai Group by 696.6% during the third quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock worth $5,248,000 after acquiring an additional 163,310 shares in the last quarter. Trivest Advisors Ltd purchased a new stake in shares of Hesai Group during the second quarter worth $17,769,000. Robeco Schweiz AG boosted its holdings in shares of Hesai Group by 131.8% in the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock worth $24,756,000 after acquiring an additional 501,000 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Hesai Group in the second quarter valued at $1,500,000. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Price Performance

Hesai Group stock opened at $23.97 on Wednesday. Hesai Group Sponsored ADR has a 52 week low of $10.41 and a 52 week high of $30.85. The business has a 50-day simple moving average of $23.52 and a 200 day simple moving average of $23.77. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 57.07 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. On average, research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of recent research reports. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, CICC Research started coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. Two analysts have 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, the stock currently has an average rating of “Buy” and an average price target of $30.80.

Hesai Group Company 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.