Trivest Advisors Ltd Purchases Shares of 809,500 Hesai Group Sponsored ADR $HSAI

Trivest Advisors Ltd acquired a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 809,500 shares of the company’s stock, valued at approximately $17,769,000. Hesai Group makes up 0.7% of Trivest Advisors Ltd’s holdings, making the stock its 25th biggest holding.

Other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Hesai Group by 43.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company’s stock valued at $932,000 after buying an additional 19,000 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of Hesai Group during the 2nd quarter valued at $699,000. Acadian Asset Management LLC grew its stake in shares of Hesai Group by 2,217.8% during the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock valued at $1,656,000 after buying an additional 107,432 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in shares of Hesai Group during the 1st quarter valued at $1,925,000. Finally, Pinpoint Asset Management Ltd grew its stake in shares of Hesai Group by 22,312.2% during the 1st quarter. Pinpoint Asset Management Ltd now owns 97,493 shares of the company’s stock valued at $1,443,000 after buying an additional 97,058 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $22.75 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. The firm has a 50-day moving average of $26.01 and a two-hundred day moving average of $22.32. The stock has a market cap of $2.98 billion, a P/E ratio of 252.78 and a beta of 1.12. Hesai Group Sponsored ADR has a 1-year low of $4.02 and a 1-year high of $30.85.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data 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). The firm had revenue of $98.61 million during the quarter, compared to analysts’ expectations of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. On average, research analysts expect that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on HSAI shares. UBS Group started coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They set a “buy” rating and a $35.00 price objective for the company. Morgan Stanley raised shares of Hesai Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Hesai Group presently has an average rating of “Buy” and an average target price 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.