MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Holdings in Hesai Group (NASDAQ:HSAI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in shares of Hesai Group (NASDAQ:HSAI) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,149,590 shares of the company’s stock after selling 13,908 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.90% of Hesai Group worth $15,887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Hesai Group during the 4th quarter worth approximately $138,000. Hsbc Holdings PLC bought a new stake in shares of Hesai Group during the 4th quarter valued at $159,000. Landscape Capital Management L.L.C. bought a new stake in shares of Hesai Group during the 4th quarter valued at $168,000. Fox Run Management L.L.C. purchased a new position in shares of Hesai Group during the 4th quarter valued at $177,000. Finally, Oberweis Asset Management Inc. bought a new position in Hesai Group in the 4th quarter worth $387,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Down 2.6%

Shares of HSAI stock opened at $17.36 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of -39.45, a PEG ratio of 1.44 and a beta of 1.18. Hesai Group has a 52 week low of $3.52 and a 52 week high of $24.18. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $16.40 and its two-hundred day simple moving average is $13.70.

Analysts Set New Price Targets

A number of research firms have commented on HSAI. Daiwa Capital Markets began coverage on Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Daiwa America raised Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th.

Hesai Group 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.