FIL Ltd Sells 350,310 Shares of Hesai Group (NASDAQ:HSAI)

FIL Ltd decreased its holdings in shares of Hesai Group (NASDAQ:HSAI) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,873,934 shares of the company’s stock after selling 350,310 shares during the period. FIL Ltd owned approximately 3.84% of Hesai Group worth $67,358,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new position in Hesai Group during the 4th quarter valued at about $168,000. Fox Run Management L.L.C. bought a new position in Hesai Group in the 4th quarter valued at approximately $177,000. Jane Street Group LLC raised its stake in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after buying an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Hesai Group by 366.0% in the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company’s stock worth $659,000 after purchasing an additional 37,464 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Daiwa Capital Markets assumed coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 target price for the company.

Hesai Group Stock Up 2.3 %

Shares of NASDAQ HSAI opened at $13.52 on Thursday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -30.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The business has a 50-day moving average of $17.46 and a two-hundred day moving average of $11.89. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.