Hesai Group Sponsored ADR $HSAI Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd reduced its position in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 9.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 390,974 shares of the company’s stock after selling 40,000 shares during the period. Hesai Group accounts for 1.1% of Maxi Investments CY Ltd’s portfolio, making the stock its 21st biggest position. Maxi Investments CY Ltd’s holdings in Hesai Group were worth $6,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Athena Wealth Management LLC boosted its position in Hesai Group by 55.4% during the third quarter. Athena Wealth Management LLC now owns 28,470 shares of the company’s stock worth $454,000 after purchasing an additional 10,152 shares in the last quarter. C WorldWide Group Holding A S grew its holdings in Hesai Group by 1.4% in the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock valued at $12,382,000 after purchasing an additional 9,385 shares during the period. Squarepoint Ops LLC grew its holdings in Hesai Group by 13.7% in the second quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock valued at $579,000 after purchasing an additional 3,822 shares during the period. B. Metzler seel. Sohn & Co. AG increased its position in shares of Hesai Group by 15.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock valued at $1,565,000 after buying an additional 11,679 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Hesai Group in the second quarter valued at approximately $234,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Trading Up 4.3%

HSAI stock opened at $13.69 on Tuesday. Hesai Group Sponsored ADR has a 12-month low of $12.00 and a 12-month high of $29.35. The business’s 50-day moving average is $16.31 and its 200 day moving average is $20.24. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.20 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. On average, sell-side analysts anticipate that Hesai Group Sponsored ADR will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HSAI shares. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Hesai Group presently has an average rating of “Buy” and an average price target of $23.50.

Hesai Group Profile

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.