Candriam S.C.A. Has $1.53 Million Stake in Hesai Group Sponsored ADR $HSAI

Candriam S.C.A. reduced its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 55.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,500 shares of the company’s stock after selling 87,500 shares during the quarter. Candriam S.C.A.’s holdings in Hesai Group were worth $1,526,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. raised its stake in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares during the period. Bessemer Group Inc. acquired a new position in shares of Hesai Group in the second quarter valued at $33,000. JTC Employer Solutions Trustee Ltd raised its position in shares of Hesai Group by 117.6% in the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after purchasing an additional 3,368 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Hesai Group in the first quarter valued at about $150,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Hesai Group during the 1st quarter worth about $226,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HSAI. UBS Group assumed coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price target on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Hesai Group in a report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.26.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI opened at $19.59 on Monday. Hesai Group Sponsored ADR has a 12-month low of $4.02 and a 12-month high of $30.85. The company’s 50 day moving average price is $25.33 and its two-hundred day moving average price is $22.66. The firm has a market cap of $2.57 billion, a PE ratio of 46.64 and a beta of 1.13. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Tuesday, November 11th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The company had revenue of $111.70 million during the quarter, compared to the consensus estimate of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. Equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

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.