Y Intercept Hong Kong Ltd Decreases Stake in Hesai Group Sponsored ADR $HSAI

Y Intercept Hong Kong Ltd reduced its stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 83.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,263 shares of the company’s stock after selling 57,087 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Hesai Group were worth $316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in shares of Hesai Group during the 2nd quarter worth approximately $33,000. Daiwa Securities Group Inc. purchased a new position in Hesai Group in the second quarter worth approximately $108,000. JTC Employer Solutions Trustee Ltd grew its position in Hesai Group by 117.6% in the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after acquiring an additional 3,368 shares during the period. Federated Hermes Inc. acquired a new stake in Hesai Group during the second quarter worth $156,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Hesai Group in the third quarter valued at $223,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of Hesai Group stock opened at $24.09 on Thursday. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. Hesai Group Sponsored ADR has a 52 week low of $10.41 and a 52 week high of $30.85. The firm’s 50 day moving average is $23.63 and its two-hundred day moving average is $23.78. The firm has a market capitalization of $3.37 billion, a P/E ratio of 57.36 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The business 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%. Research analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. CICC Research began coverage on Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock. Finally, Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Two equities research analysts have 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $30.80.

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.