Quadrature Capital Ltd Sells 54,534 Shares of Hesai Group Sponsored ADR $HSAI

Quadrature Capital Ltd decreased its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 49.0% in the second quarter, Holdings Channel reports. The institutional investor owned 56,713 shares of the company’s stock after selling 54,534 shares during the quarter. Quadrature Capital Ltd’s holdings in Hesai Group were worth $1,244,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HSAI. SG Americas Securities LLC increased its holdings in shares of Hesai Group by 2.8% during the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after acquiring an additional 631 shares in the last quarter. Franklin Resources Inc. grew its position in Hesai Group by 4.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock valued at $429,000 after purchasing an additional 782 shares during the last quarter. Main Management ETF Advisors LLC grew its position in Hesai Group by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after purchasing an additional 1,008 shares during the last quarter. Bessemer Group Inc. bought a new stake in Hesai Group during the 2nd quarter valued at about $33,000. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in Hesai Group by 117.6% in the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after buying an additional 3,368 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

Shares of HSAI opened at $19.24 on Monday. The firm has a market capitalization of $2.52 billion, a P/E ratio of 45.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. Hesai Group Sponsored ADR has a one year low of $7.10 and a one year high of $30.85. The business has a fifty day moving average of $23.11 and a 200 day moving average of $22.70.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Tuesday, November 11th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The company had revenue of $111.70 million for the quarter, compared to the consensus estimate of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. As a group, sell-side analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, November 24th. CICC Research started coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price for the company. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, UBS Group began coverage on Hesai Group in a research report on Tuesday, August 19th. They set a “buy” rating and a $35.00 price objective on the stock. Two 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.80.

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.