Long Corridor Asset Management Ltd Makes New $2.81 Million Investment in Hesai Group Sponsored ADR $HSAI

Long Corridor Asset Management Ltd bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $2,810,000. Hesai Group accounts for approximately 1.1% of Long Corridor Asset Management Ltd’s holdings, making the stock its 16th biggest holding. Long Corridor Asset Management Ltd owned about 0.08% of Hesai Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Hesai Group during the 3rd quarter worth approximately $123,000. Daiwa Securities Group Inc. bought a new stake in Hesai Group in the second quarter valued at approximately $108,000. Federated Hermes Inc. bought a new stake in Hesai Group in the second quarter valued at approximately $156,000. Redwood Wealth Management Group LLC acquired a new stake in Hesai Group in the third quarter worth $223,000. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in Hesai Group by 72.9% in the third quarter. JTC Employer Solutions Trustee Ltd now owns 10,774 shares of the company’s stock worth $303,000 after purchasing an additional 4,543 shares during the period. 48.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HSAI has been the topic of a number of recent analyst reports. CICC Research initiated coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Hesai Group has a consensus rating of “Buy” and an average target price of $30.80.

Hesai Group Stock Up 0.5%

Shares of HSAI stock opened at $23.86 on Friday. Hesai Group Sponsored ADR has a 12-month low of $10.41 and a 12-month high of $30.85. 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 firm has a fifty day moving average of $25.99 and a 200-day moving average of $24.44. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 56.81 and a beta of 1.06.

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.