Long Corridor Asset Management Ltd Invests $2.81 Million in Hesai Group Sponsored ADR $HSAI

Long Corridor Asset Management Ltd acquired a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $2,810,000. Hesai Group makes up approximately 1.1% of Long Corridor Asset Management Ltd’s holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 961,493 shares in the last quarter. Robeco Schweiz AG bought a new position in shares of Hesai Group during the 2nd quarter worth approximately $8,341,000. SG Americas Securities LLC raised its holdings in shares of Hesai Group by 2.8% in the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after purchasing an additional 631 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of Hesai Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Hesai Group by 4.2% in the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after purchasing an additional 782 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Up 0.5%

HSAI stock opened at $23.86 on Friday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 56.81 and a beta of 1.06. Hesai Group Sponsored ADR has a twelve month low of $10.41 and a twelve month high of $30.85. The business has a 50 day moving average price of $25.99 and a two-hundred day moving average price of $24.44. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HSAI shares. Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. CICC Research initiated coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $30.80.

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.