State of New Jersey Common Pension Fund D Invests $551,000 in Hesai Group Sponsored ADR $HSAI

State of New Jersey Common Pension Fund D purchased a new position in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,576 shares of the company’s stock, valued at approximately $551,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Hesai Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after buying an additional 28,102 shares during the period. Allianz Asset Management GmbH grew its position in shares of Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after acquiring an additional 584,468 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Hesai Group by 5.6% during the third quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock worth $51,992,000 after acquiring an additional 98,884 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Hesai Group by 108.4% in the 3rd quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock worth $41,647,000 after acquiring an additional 770,816 shares during the period. Finally, Aberdeen Group plc bought a new stake in Hesai Group in the 3rd quarter valued at about $38,241,000. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Stock Performance

Hesai Group stock opened at $21.80 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.38. The company has a market cap of $3.05 billion, a P/E ratio of 54.50 and a beta of 1.50. Hesai Group Sponsored ADR has a fifty-two week low of $14.69 and a fifty-two week high of $30.85. The firm’s 50 day simple moving average is $22.61 and its 200-day simple moving average is $23.09.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $143.00 million for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. As a group, equities research analysts predict that Hesai Group Sponsored ADR will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on HSAI shares. Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Wall Street Zen raised Hesai Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, BNP Paribas Exane initiated coverage on Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $29.96.

About Hesai Group

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.