Maxi Investments CY Ltd Invests $11.49 Million in Hesai Group Sponsored ADR $HSAI

Maxi Investments CY Ltd acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 512,847 shares of the company’s stock, valued at approximately $11,488,000. Hesai Group comprises about 2.1% of Maxi Investments CY Ltd’s holdings, making the stock its 12th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Schweiz AG increased its holdings in shares of Hesai Group by 33.9% during the 4th quarter. Robeco Schweiz AG now owns 1,179,500 shares of the company’s stock worth $26,421,000 after buying an additional 298,500 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of 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 buying an additional 746 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Hesai Group during the 4th quarter worth $551,000. M&T Bank Corp acquired a new stake in shares of Hesai Group during the 4th quarter worth $894,000. Finally, UBS Group AG increased its holdings in shares of Hesai Group by 32.6% during the 4th quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock worth $27,286,000 after buying an additional 299,195 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of research analyst reports. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, BNP Paribas Exane began coverage on Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $29.96.

Hesai Group Stock Down 2.6%

Shares of NASDAQ HSAI opened at $21.86 on Friday. Hesai Group Sponsored ADR has a 12-month low of $14.69 and a 12-month high of $30.85. The company has a market cap of $3.06 billion, a P/E ratio of 54.65 and a beta of 1.50. The company has a current ratio of 3.73, a quick ratio of 3.38 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $22.82 and a 200 day moving average price of $23.11.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.16 earnings per share (EPS) for the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%.The firm had revenue of $143.00 million during the quarter. Research analysts anticipate that Hesai Group Sponsored ADR will post 0.65 EPS for the current fiscal year.

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.