Vontobel Holding Ltd. Acquires New Holdings in Hesai Group Sponsored ADR $HSAI

Vontobel Holding Ltd. purchased a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 31,825 shares of the company’s stock, valued at approximately $699,000.

A number of other institutional investors also recently modified their holdings of HSAI. SG Americas Securities LLC bought a new position in shares of Hesai Group in the first quarter valued at approximately $338,000. Robeco Institutional Asset Management B.V. bought a new position in Hesai Group in the 1st quarter worth $2,782,000. Perpetual Ltd bought a new position in Hesai Group in the 1st quarter worth $374,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Hesai Group by 2,611.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 413,041 shares of the company’s stock worth $6,113,000 after acquiring an additional 397,805 shares during the period. Finally, GF Fund Management CO. LTD. increased its stake in shares of Hesai Group by 68.4% in the first quarter. GF Fund Management CO. LTD. now owns 294,750 shares of the company’s stock worth $4,362,000 after purchasing an additional 119,750 shares during the period. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI opened at $23.53 on Tuesday. The business’s fifty day moving average price is $26.24 and its two-hundred day moving average price is $21.20. Hesai Group Sponsored ADR has a fifty-two week low of $4.02 and a fifty-two week high of $30.85. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 261.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The company had revenue of $98.61 million during the quarter, compared to the consensus estimate of $846.98 million. As a group, analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HSAI shares. The Goldman Sachs Group lifted their price objective on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. UBS Group initiated coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a research report on Wednesday, October 8th. One analyst has 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 MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.26.

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.