Hesai Group Sponsored ADR $HSAI Stock Holdings Lowered by WT Asset Management Ltd

WT Asset Management Ltd trimmed its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 94.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 20,000 shares of the company’s stock after selling 326,389 shares during the quarter. WT Asset Management Ltd’s holdings in Hesai Group were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HSAI. SG Americas Securities LLC lifted its position in shares of Hesai Group by 696.6% during the 3rd quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after acquiring an additional 163,310 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after purchasing an additional 584,468 shares during the last quarter. Trivest Advisors Ltd acquired a new position in shares of Hesai Group in the 2nd quarter valued at $17,769,000. Robeco Schweiz AG increased its stake in Hesai Group by 131.8% in the 3rd quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock worth $24,756,000 after purchasing an additional 501,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Hesai Group during the 2nd quarter worth about $1,500,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Up 0.1%

HSAI stock traded up $0.03 during midday trading on Friday, reaching $28.15. The company had a trading volume of 194,117 shares, compared to its average volume of 2,262,228. The company has a 50 day moving average of $25.07 and a two-hundred day moving average of $24.19. The company has a market capitalization of $3.94 billion, a P/E ratio of 67.03 and a beta of 1.14. Hesai Group Sponsored ADR has a 1 year low of $10.41 and a 1 year high of $30.85. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

HSAI has been the subject of several recent analyst reports. CICC Research initiated coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Two research analysts have 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 data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.80.

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.