Fosun International Ltd Acquires Shares of 111,608 Hesai Group Sponsored ADR $HSAI

Fosun International Ltd bought a new stake in Hesai Group Sponsored ADR (NASDAQ:HSAI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 111,608 shares of the company’s stock, valued at approximately $3,136,000. Hesai Group comprises approximately 1.2% of Fosun International Ltd’s holdings, making the stock its 6th largest holding.

Several other hedge funds have also made changes to their positions in HSAI. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Hesai Group in the 3rd quarter valued at about $1,847,000. Banco BTG Pactual S.A. acquired a new stake in Hesai Group during the 3rd quarter worth approximately $562,000. Quadrature Capital Ltd grew its stake in shares of Hesai Group by 28.6% in the 3rd quarter. Quadrature Capital Ltd now owns 72,941 shares of the company’s stock valued at $2,051,000 after purchasing an additional 16,228 shares during the last quarter. Aristides Capital LLC increased its holdings in shares of Hesai Group by 204.2% in the third quarter. Aristides Capital LLC now owns 121,414 shares of the company’s stock valued at $3,412,000 after purchasing an additional 81,500 shares during the period. Finally, UBS Group AG raised its stake in shares of Hesai Group by 232.0% during the third quarter. UBS Group AG now owns 918,915 shares of the company’s stock worth $25,822,000 after purchasing an additional 642,141 shares during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Price Performance

Shares of HSAI opened at $24.04 on Friday. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $26.18 and its two-hundred day moving average is $24.47. Hesai Group Sponsored ADR has a twelve month low of $10.41 and a twelve month high of $30.85. The firm has a market capitalization of $3.37 billion, a PE ratio of 57.24 and a beta of 1.06.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. CICC Research initiated coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective for the company. 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 company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $29.96.

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.