Sovereign Financial Group Inc. Boosts Stake in Hesai Group Sponsored ADR $HSAI

Sovereign Financial Group Inc. lifted its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 94.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,425 shares of the company’s stock after purchasing an additional 9,424 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Hesai Group were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. grew its holdings in shares of Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock worth $32,000 after acquiring an additional 1,249 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Hesai Group in the first quarter worth $150,000. Advisors Asset Management Inc. bought a new stake in shares of Hesai Group in the first quarter worth $226,000. Quantbot Technologies LP bought a new stake in Hesai Group during the first quarter valued at about $272,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Hesai Group by 43.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company’s stock valued at $932,000 after purchasing an additional 19,000 shares during the period. Institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HSAI shares. UBS Group started coverage on Hesai Group in a research note on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. The Goldman Sachs Group boosted their target price on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Hesai Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.26.

Hesai Group Trading Down 11.1%

HSAI opened at $22.05 on Monday. The stock’s fifty day moving average is $26.18 and its two-hundred day moving average is $21.14. The company has a market capitalization of $2.89 billion, a P/E ratio of 245.00 and a beta of 1.15. Hesai Group Sponsored ADR has a 52 week low of $4.02 and a 52 week high of $30.85. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The firm had revenue of $98.61 million for the quarter, compared to analysts’ expectations of $846.98 million. Analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Hesai Group 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.