Robeco Institutional Asset Management B.V. Acquires New Position in Hesai Group Sponsored ADR (NASDAQ:HSAI)

Robeco Institutional Asset Management B.V. bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) during the first quarter, HoldingsChannel reports. The fund bought 187,951 shares of the company’s stock, valued at approximately $2,782,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Hesai Group during the first quarter worth $338,000. Lightspeed Management Company L.L.C. bought a new stake in shares of Hesai Group during the fourth quarter worth $110,560,000. JPMorgan Chase & Co. bought a new stake in shares of Hesai Group during the fourth quarter worth $1,494,000. BNP Paribas Financial Markets bought a new stake in shares of Hesai Group during the fourth quarter worth $1,000,000. Finally, Bank of America Corp DE grew its stake in shares of Hesai Group by 2,015.6% during the fourth quarter. Bank of America Corp DE now owns 166,458 shares of the company’s stock worth $2,300,000 after buying an additional 158,590 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Daiwa America raised shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a “buy” rating and a $29.30 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $24.43.

Hesai Group Stock Performance

Shares of Hesai Group stock opened at $20.67 on Wednesday. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. Hesai Group Sponsored ADR has a twelve month low of $3.52 and a twelve month high of $24.18. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -689.00 and a beta of 1.14. The company’s fifty day moving average is $18.96 and its 200 day moving average is $16.85.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The company had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $532.16 million. Sell-side analysts forecast that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Hesai Group Company 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.