Cvfg LLC Makes New $3.57 Million Investment in Hesai Group Sponsored ADR $HSAI

Cvfg LLC purchased a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 186,930 shares of the company’s stock, valued at approximately $3,574,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. acquired a new stake in shares of Hesai Group in the first quarter valued at $51,000. SBI Securities Co. Ltd. grew its stake in 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 purchasing an additional 746 shares in the last quarter. Legal & General Group Plc purchased a new stake in Hesai Group during the 3rd quarter worth about $71,000. Eurizon Capital SGR S.p.A. purchased a new stake in Hesai Group during the 4th quarter worth about $88,000. Finally, Leonteq Securities AG acquired a new stake in Hesai Group in the 4th quarter valued at about $106,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Down 7.6%

Hesai Group stock opened at $16.15 on Wednesday. Hesai Group Sponsored ADR has a 1-year low of $14.40 and a 1-year high of $30.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The stock has a market cap of $2.26 billion, a PE ratio of 36.71, a P/E/G ratio of 0.67 and a beta of 1.35. The stock’s fifty day moving average is $19.48 and its two-hundred day moving average is $22.60.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. On average, sell-side analysts expect that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HSAI has been the subject of a number of analyst reports. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. BNP Paribas Exane assumed coverage on shares of Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen downgraded shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $30.12.

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.