Pinpoint Asset Management Singapore Pte. Ltd. Takes Position in Hesai Group Sponsored ADR $HSAI

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 95,274 shares of the company’s stock, valued at approximately $2,091,000. Pinpoint Asset Management Singapore Pte. Ltd. owned about 0.07% of Hesai Group at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Hesai Group by 4.2% during the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock valued at $429,000 after acquiring an additional 782 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Hesai Group by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock worth $1,367,000 after purchasing an additional 1,008 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Hesai Group by 2.8% during the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock worth $515,000 after buying an additional 631 shares in the last quarter. Robeco Schweiz AG acquired a new position in shares of Hesai Group in the second quarter valued at approximately $8,341,000. Finally, Trivest Advisors Ltd acquired a new stake in Hesai Group during the second quarter worth approximately $17,769,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on HSAI shares. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. UBS Group began coverage on Hesai Group in a research report on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price on the stock. CICC Research initiated coverage on Hesai Group in a report on Tuesday. They issued an “outperform” rating and a $23.50 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday. 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. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hesai Group currently has a consensus rating of “Buy” and an average price target of $30.80.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $20.22 on Wednesday. The firm’s fifty day simple moving average is $23.73 and its 200 day simple moving average is $22.68. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. Hesai Group Sponsored ADR has a twelve month low of $5.11 and a twelve month high of $30.85. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 48.14 and a beta of 1.12.

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

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.