Mirae Asset Global Investments Co. Ltd. Acquires 33,513 Shares of Hesai Group Sponsored ADR $HSAI

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,381 shares of the company’s stock after buying an additional 33,513 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Hesai Group worth $3,279,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Hesai Group by 18.3% during the third quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock valued at $114,601,000 after buying an additional 629,680 shares during the period. SG Americas Securities LLC boosted its stake in Hesai Group by 696.6% during the third quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after buying an additional 163,310 shares during the period. Long Corridor Asset Management Ltd bought a new stake in Hesai Group during the third quarter valued at $2,810,000. Allianz Asset Management GmbH boosted its stake in Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares during the period. Finally, Robeco Schweiz AG boosted its stake in Hesai Group by 131.8% during the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock valued at $24,756,000 after buying an additional 501,000 shares during the period. Institutional investors own 48.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HSAI shares. BNP Paribas Exane initiated coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Wall Street Zen downgraded Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and an average price target of $29.96.

Hesai Group Trading Up 1.2%

NASDAQ HSAI opened at $21.63 on Thursday. The stock’s 50-day simple moving average is $23.65 and its two-hundred day simple moving average is $23.25. Hesai Group Sponsored ADR has a twelve month low of $13.90 and a twelve month high of $30.85. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 54.08 and a beta of 1.46.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.16 earnings per share for the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%.The business had revenue of $143.00 million for the quarter. Research analysts forecast that Hesai Group Sponsored ADR will post 0.67 EPS for the current fiscal year.

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.