Empowered Funds LLC Purchases Shares of 584,999 Hesai Group Sponsored ADR $HSAI

Empowered Funds LLC acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 584,999 shares of the company’s stock, valued at approximately $11,185,000. Empowered Funds LLC owned 0.42% of Hesai Group as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HSAI. Advisors Asset Management Inc. lifted its holdings in shares of Hesai Group by 2.8% during the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after acquiring an additional 430 shares in the last quarter. Main Management ETF Advisors LLC increased its holdings in Hesai Group by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock valued at $1,123,000 after purchasing an additional 512 shares in the last quarter. Bessemer Group Inc. increased its holdings in Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after purchasing an additional 725 shares in the last quarter. Royal Bank of Canada increased its holdings in Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock valued at $119,000 after purchasing an additional 726 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Up 1.3%

NASDAQ HSAI opened at $16.55 on Friday. The stock has a market cap of $2.32 billion, a P/E ratio of 37.61, a PEG ratio of 0.63 and a beta of 1.35. The company’s fifty day simple moving average is $17.28 and its 200-day simple moving average is $21.61. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. Hesai Group Sponsored ADR has a 52 week low of $14.29 and a 52 week high of $30.85.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The business had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. Equities research analysts predict that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on HSAI shares. Weiss Ratings restated a “hold (c-)” rating on shares of Hesai Group in a research note on Friday, July 24th. Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and an average target price of $31.50.

Hesai Group Company 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.