Broad Peak Investment Advisers Pte Ltd Invests $16.54 Million in Hesai Group Sponsored ADR $HSAI

Broad Peak Investment Advisers Pte Ltd purchased a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 1st quarter, Holdings Channel reports. The fund purchased 865,000 shares of the company’s stock, valued at approximately $16,539,000. Hesai Group makes up 3.4% of Broad Peak Investment Advisers Pte Ltd’s holdings, making the stock its 11th biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Schroder Investment Management Group grew its holdings in Hesai Group by 17,419.6% during the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock worth $46,276,000 after acquiring an additional 2,054,114 shares during the period. Federated Hermes Inc. lifted its holdings in Hesai Group by 8,076.3% in the fourth quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock valued at $28,311,000 after acquiring an additional 1,248,436 shares during the period. Norges Bank purchased a new stake in shares of Hesai Group during the 4th quarter worth $24,260,000. Goldman Sachs Group Inc. boosted its position in shares of Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Hesai Group by 124.6% during the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after purchasing an additional 901,370 shares during the period. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Stock Up 6.5%

HSAI opened at $15.76 on Tuesday. The business’s fifty day moving average is $20.02 and its two-hundred day moving average is $22.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 0.57 and a beta of 1.34. Hesai Group Sponsored ADR has a one year low of $14.40 and a one year high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The business had revenue of $98.71 million during the quarter, compared to analysts’ expectations of $96.50 million. Analysts anticipate that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HSAI. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. BNP Paribas Exane initiated coverage on shares of Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. Finally, Wall Street Zen lowered shares of Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $30.12.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.