Eschler Asset Management LLP Reduces Position in Hesai Group Sponsored ADR $HSAI

Eschler Asset Management LLP decreased its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 85.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,700 shares of the company’s stock after selling 174,900 shares during the quarter. Hesai Group accounts for about 0.6% of Eschler Asset Management LLP’s investment portfolio, making the stock its 25th biggest position. Eschler Asset Management LLP’s holdings in Hesai Group were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc bought a new stake in shares of Hesai Group during the 3rd quarter worth approximately $71,000. Quantbot Technologies LP bought a new position in Hesai Group in the 3rd quarter valued at $123,000. Daiwa Securities Group Inc. purchased a new stake in Hesai Group in the second quarter worth $108,000. Federated Hermes Inc. bought a new stake in shares of Hesai Group during the second quarter worth $156,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Hesai Group during the third quarter worth $223,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Stock Down 5.2%

Shares of Hesai Group stock opened at $24.34 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 57.95 and a beta of 1.06. The firm’s 50-day moving average is $26.18 and its two-hundred day moving average is $24.46. Hesai Group Sponsored ADR has a 1 year low of $10.41 and a 1 year high of $30.85.

Analyst Ratings Changes

HSAI has been the topic of a number of research analyst reports. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Hesai Group currently has an average rating of “Buy” and an average target price of $29.96.

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.