Regal Partners Ltd Invests $1.79 Million in Hesai Group Sponsored ADR $HSAI

Regal Partners Ltd bought a new position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 63,721 shares of the company’s stock, valued at approximately $1,791,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HSAI. Aberdeen Group plc bought a new stake in Hesai Group during the third quarter valued at $38,241,000. Goldman Sachs Group Inc. raised its position in shares of 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 acquiring an additional 961,493 shares in the last quarter. Norges Bank bought a new position in shares of Hesai Group in the 2nd quarter worth about $20,619,000. C WorldWide Group Holding A S acquired a new position in shares of Hesai Group in the 3rd quarter valued at about $22,905,000. Finally, Vanguard Group Inc. lifted its stake in shares of Hesai Group by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock valued at $114,601,000 after purchasing an additional 629,680 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Price Performance

Shares of NASDAQ HSAI opened at $23.86 on Friday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 56.81 and a beta of 1.06. The firm’s 50-day moving average price is $25.99 and its 200-day moving average price is $24.44. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. Hesai Group Sponsored ADR has a 1-year low of $10.41 and a 1-year high of $30.85.

Wall Street Analysts Forecast Growth

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