The Manufacturers Life Insurance Company Sells 471,227 Shares of Hesai Group Sponsored ADR $HSAI

The Manufacturers Life Insurance Company lowered its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 62.9% during the 1st quarter, HoldingsChannel reports. The fund owned 277,870 shares of the company’s stock after selling 471,227 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hesai Group were worth $5,313,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HSAI. UBS Group AG raised its position in Hesai Group by 32.6% in the 4th quarter. UBS Group AG now owns 1,218,110 shares of the company’s stock worth $27,286,000 after purchasing an additional 299,195 shares during the period. M&T Bank Corp purchased a new position in shares of Hesai Group during the fourth quarter valued at approximately $2,904,000. Maxi Investments CY Ltd purchased a new position in shares of Hesai Group during the fourth quarter valued at approximately $11,488,000. Robeco Schweiz AG grew its stake in shares of Hesai Group by 33.9% during the fourth quarter. Robeco Schweiz AG now owns 1,179,500 shares of the company’s stock valued at $26,421,000 after buying an additional 298,500 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Hesai Group during the first quarter valued at approximately $1,658,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Price Performance

HSAI opened at $17.75 on Friday. Hesai Group Sponsored ADR has a 12-month low of $14.29 and a 12-month high of $30.85. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $16.99 and its 200-day simple moving average is $21.27. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 0.69 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm 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, equities research analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HSAI shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Hesai Group in a research note on Friday, July 24th. Wall Street Zen raised Hesai Group from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, four have given 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 price target of $31.50.

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.