China Universal Asset Management Co. Ltd. Increases Position in Hesai Group (NASDAQ:HSAI)

China Universal Asset Management Co. Ltd. boosted its position in Hesai Group (NASDAQ:HSAI) by 49.2% in the 4th quarter, Holdings Channel reports. The fund owned 44,000 shares of the company’s stock after purchasing an additional 14,500 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Hesai Group were worth $608,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares during the period. Jane Street Group LLC boosted its stake in Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in Hesai Group in the 3rd quarter valued at about $924,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI opened at $15.44 on Monday. The business has a 50-day moving average of $12.69 and a two-hundred day moving average of $7.27. The firm has a market capitalization of $1.96 billion, a PE ratio of -35.09, a P/E/G ratio of 1.76 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. Hesai Group has a 12 month low of $3.28 and a 12 month high of $16.79.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Monday, November 25th. The company reported ($0.05) earnings per share (EPS) for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. As a group, research analysts forecast that Hesai Group will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on HSAI shares. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.

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.