J. Safra Sarasin Holding AG Has $985,000 Stock Holdings in Hesai Group Sponsored ADR $HSAI

J. Safra Sarasin Holding AG trimmed its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 61.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 35,056 shares of the company’s stock after selling 55,000 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Hesai Group were worth $985,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HSAI. Vontobel Holding Ltd. acquired a new position in shares of Hesai Group in the 2nd quarter valued at approximately $699,000. Allianz Asset Management GmbH boosted its position in shares of Hesai Group by 78.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after acquiring an additional 882,180 shares in the last quarter. SG Americas Securities LLC increased its stake in Hesai Group by 696.6% in the third quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after acquiring an additional 163,310 shares during the last quarter. Trivest Advisors Ltd acquired a new position in Hesai Group during the second quarter valued at approximately $17,769,000. Finally, Robeco Schweiz AG lifted its stake in Hesai Group by 131.8% during the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock worth $24,756,000 after purchasing an additional 501,000 shares during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Down 3.0%

Shares of HSAI opened at $25.10 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. Hesai Group Sponsored ADR has a 52 week low of $10.41 and a 52 week high of $30.85. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 59.76 and a beta of 1.14. The stock has a fifty day moving average of $22.99 and a 200-day moving average of $23.72.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The business had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. As a group, sell-side analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.