Persistent Asset Partners Ltd Takes $1.22 Million Position in Hesai Group Sponsored ADR $HSAI

Persistent Asset Partners Ltd acquired a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 43,226 shares of the company’s stock, valued at approximately $1,215,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Aberdeen Group plc bought a new stake in shares of Hesai Group during the third quarter valued at approximately $38,241,000. Goldman Sachs Group Inc. grew its holdings 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 worth $18,346,000 after buying an additional 961,493 shares in the last quarter. Norges Bank acquired a new stake in Hesai Group in the 2nd quarter valued at approximately $20,619,000. C WorldWide Group Holding A S bought a new stake in Hesai Group during the 3rd quarter valued at $22,905,000. Finally, Trivest Advisors Ltd acquired a new position in Hesai Group during the 2nd quarter worth $17,769,000. Institutional investors own 48.53% of the company’s stock.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. CICC Research started coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price for the company. Finally, Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $30.80.

Hesai Group Stock Performance

Shares of NASDAQ HSAI opened at $28.12 on Friday. The stock’s fifty day simple moving average is $25.07 and its 200 day simple moving average is $24.19. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 66.95 and a beta of 1.14. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. Hesai Group Sponsored ADR has a 52-week low of $10.41 and a 52-week high of $30.85.

Hesai Group 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.