Hesai Group (NASDAQ:HSAI) Shares Sold by FIL Ltd

FIL Ltd cut its position in Hesai Group (NASDAQ:HSAI - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,873,934 shares of the company's stock after selling 350,310 shares during the period. FIL Ltd owned 3.84% of Hesai Group worth $67,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HSAI. Jane Street Group LLC raised its stake in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock valued at $230,000 after buying an additional 5,186 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Hesai Group in the fourth quarter valued at approximately $168,000. Fox Run Management L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at approximately $177,000. China Universal Asset Management Co. Ltd. raised its holdings in Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock worth $608,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Hesai Group by 366.0% during the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock worth $659,000 after buying an additional 37,464 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HSAI. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target for the company. The Goldman Sachs Group upgraded Hesai Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley cut shares of Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.

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Hesai Group Stock Performance

NASDAQ:HSAI traded down $0.89 during midday trading on Tuesday, reaching $12.05. The stock had a trading volume of 3,688,853 shares, compared to its average volume of 4,519,779. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.53 billion, a P/E ratio of -27.39, a P/E/G ratio of 1.44 and a beta of 1.35. The firm has a fifty day simple moving average of $17.31 and a two-hundred day simple moving average of $12.11. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18.

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.