Hesai Group Sponsored ADR $HSAI is Oxbow Capital Management HK Ltd’s 7th Largest Position

Oxbow Capital Management HK Ltd lowered its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 5.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,480,000 shares of the company’s stock after selling 90,662 shares during the period. Hesai Group makes up 7.3% of Oxbow Capital Management HK Ltd’s holdings, making the stock its 7th biggest holding. Oxbow Capital Management HK Ltd’s holdings in Hesai Group were worth $41,588,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HSAI. Vanguard Group Inc. lifted its holdings in Hesai Group by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after buying an additional 629,680 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Hesai Group by 29.1% in the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after acquiring an additional 584,468 shares in the last quarter. Aberdeen Group plc acquired a new position in shares of Hesai Group in the third quarter worth $38,241,000. Goldman Sachs Group Inc. increased its position in shares of Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after acquiring an additional 961,493 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Hesai Group by 14.2% during the second quarter. Bank of America Corp DE now owns 1,208,332 shares of the company’s stock worth $26,523,000 after acquiring an additional 150,022 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HSAI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. CICC Research began coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.96.

Hesai Group Stock Down 1.2%

Shares of Hesai Group stock opened at $24.04 on Friday. 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 company has a market capitalization of $3.37 billion, a P/E ratio of 57.24 and a beta of 1.06. The company has a 50 day moving average of $26.18 and a 200 day moving average of $24.47.

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.