Wellington Management Group LLP Sells 1,440,456 Shares of Hesai Group Sponsored ADR $HSAI

Wellington Management Group LLP lowered its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 90.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,397 shares of the company’s stock after selling 1,440,456 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of Hesai Group worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after buying an additional 725 shares during the last quarter. Legal & General Group Plc purchased a new stake in Hesai Group during the third quarter valued at approximately $71,000. Blue Trust Inc. bought a new position in Hesai Group in the first quarter worth approximately $51,000. Summit Securities Group LLC purchased a new position in shares of Hesai Group during the 1st quarter worth $56,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Hesai Group during the 4th quarter worth $88,000. Institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on HSAI. Wall Street Zen lowered Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $29.75.

Hesai Group Price Performance

Shares of NASDAQ:HSAI opened at $17.40 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. Hesai Group Sponsored ADR has a 1-year low of $14.29 and a 1-year high of $30.85. The company has a market capitalization of $2.44 billion, a P/E ratio of 42.44, a P/E/G ratio of 0.80 and a beta of 1.36. The firm’s 50 day simple moving average is $17.15 and its two-hundred day simple moving average is $19.86.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The firm had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.00 million. Research analysts expect that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

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.