US Bancorp DE Has $102,000 Holdings in Hesai Group (NASDAQ:HSAI)

US Bancorp DE lowered its stake in Hesai Group (NASDAQ:HSAI) by 42.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,367 shares of the company’s stock after selling 5,505 shares during the quarter. US Bancorp DE’s holdings in Hesai Group were worth $102,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Polunin Capital Partners Ltd increased its stake in shares of Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after purchasing an additional 183,417 shares during the period. Jane Street Group LLC grew its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after purchasing an additional 14,500 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group in the 3rd quarter valued at approximately $924,000. 48.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Daiwa Capital Markets assumed coverage on Hesai Group in a report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th.

Hesai Group Price Performance

HSAI opened at $19.80 on Monday. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. The company has a fifty day simple moving average of $16.68 and a 200 day simple moving average of $10.16. The stock has a market cap of $2.52 billion, a P/E ratio of -45.00, a P/E/G ratio of 1.44 and a beta of 1.07.

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.