Knollwood Investment Advisory LLC Trims Stock Position in Hesai Group Sponsored ADR $HSAI

Knollwood Investment Advisory LLC cut its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 89.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the company’s stock after selling 86,346 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in Hesai Group were worth $182,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after buying an additional 430 shares in the last quarter. Main Management ETF Advisors LLC increased its position in Hesai Group by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after buying an additional 512 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after acquiring an additional 725 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Hesai Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after acquiring an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 shares in the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several analyst reports. Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Wall Street Zen cut shares of Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Hesai Group has an average rating of “Buy” and a consensus price target of $29.75.

Hesai Group Trading Up 11.3%

Shares of HSAI stock opened at $18.46 on Friday. Hesai Group Sponsored ADR has a fifty-two week low of $14.29 and a fifty-two week high of $30.85. The firm’s 50 day moving average price is $16.99 and its two-hundred day moving average price is $20.16. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The company had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $126.00 million. On average, analysts anticipate that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

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.