SG Americas Securities LLC Has $5.25 Million Stock Position in Hesai Group Sponsored ADR $HSAI

SG Americas Securities LLC lifted its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 696.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,755 shares of the company’s stock after buying an additional 163,310 shares during the period. SG Americas Securities LLC’s holdings in Hesai Group were worth $5,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in Hesai Group by 78.2% in the second quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after acquiring an additional 882,180 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 valued at $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Bank of America Corp DE grew its position in shares of Hesai Group by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,208,332 shares of the company’s stock valued at $26,523,000 after purchasing an additional 150,022 shares during the period. The Manufacturers Life Insurance Company increased its stake in Hesai Group by 24.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock worth $25,277,000 after purchasing an additional 224,381 shares in the last quarter. Finally, Norges Bank acquired a new stake in Hesai Group during the 2nd quarter worth approximately $20,619,000. 48.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HSAI has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. CICC Research assumed coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $30.80.

Hesai Group Stock Down 0.9%

Hesai Group stock opened at $27.37 on Friday. 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 1-year low of $10.41 and a 1-year high of $30.85. The company has a fifty day simple moving average of $21.26 and a 200 day simple moving average of $23.23. The company has a market cap of $3.59 billion, a P/E ratio of 65.17 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. Research analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Hesai Group 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.