Hesai Group Sponsored ADR $HSAI Stock Holdings Lowered by Knollwood Investment Advisory LLC

Knollwood Investment Advisory LLC reduced its holdings in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 89.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after selling 86,346 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in Hesai Group were worth $182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Hesai Group during the 3rd quarter worth about $71,000. Blue Trust Inc. acquired a new stake in shares of Hesai Group in the 1st quarter valued at $51,000. SBI Securities Co. Ltd. lifted its position in shares of Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after buying an additional 746 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Hesai Group during the 1st quarter worth $56,000. Institutional investors own 48.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HSAI. Wall Street Zen lowered shares of Hesai Group from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 30th. Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $29.75.

Hesai Group Trading Up 11.3%

Shares of NASDAQ:HSAI opened at $18.46 on Friday. The company’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $20.16. Hesai Group Sponsored ADR has a 12 month low of $14.29 and a 12 month high of $30.85. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 45.03, a PEG ratio of 0.73 and a beta of 1.36. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. As a group, research analysts forecast that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

Hesai Group Company 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.