Hesai Group Sponsored ADR $HSAI Shares Purchased by Fosun International Ltd

Fosun International Ltd grew its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 31.2% during the fourth quarter, HoldingsChannel reports. The firm owned 146,423 shares of the company’s stock after purchasing an additional 34,815 shares during the quarter. Hesai Group accounts for approximately 0.8% of Fosun International Ltd’s investment portfolio, making the stock its 12th largest holding. Fosun International Ltd’s holdings in Hesai Group were worth $3,280,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Hesai Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after purchasing an additional 28,102 shares during the period. Wellington Management Group LLP increased its holdings in Hesai Group by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock valued at $51,992,000 after purchasing an additional 98,884 shares in the last quarter. National Bank of Canada FI increased its holdings in 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 valued at $41,647,000 after purchasing an additional 770,816 shares in the last quarter. Aberdeen Group plc acquired a new stake in Hesai Group in the 3rd quarter valued at $38,241,000. Finally, Goldman Sachs Group Inc. boosted its position in Hesai Group by 345.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after buying an additional 961,493 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

HSAI opened at $20.25 on Friday. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 0.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. Hesai Group Sponsored ADR has a 1-year low of $14.69 and a 1-year high of $30.85. The business has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $22.93.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. Research analysts predict that Hesai Group Sponsored ADR will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HSAI has been the topic of several research analyst reports. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, BNP Paribas Exane began coverage on shares of Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.