Hesai Group (NASDAQ:HSAI) Stock Holdings Cut by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in Hesai Group (NASDAQ:HSAI) by 33.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,214 shares of the company’s stock after selling 170,174 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.27% of Hesai Group worth $4,743,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HSAI. Fox Run Management L.L.C. bought a new stake in Hesai Group during the fourth quarter worth approximately $177,000. Polunin Capital Partners Ltd boosted its stake in shares of Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after acquiring an additional 183,417 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after acquiring an additional 14,500 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Hesai Group during the third quarter worth $924,000. Finally, Jane Street Group LLC lifted its holdings in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Up 17.8 %

Hesai Group stock opened at $17.43 on Wednesday. Hesai Group has a twelve month low of $3.52 and a twelve month high of $24.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The firm has a market cap of $2.21 billion, a PE ratio of -39.61, a P/E/G ratio of 1.44 and a beta of 1.07. The firm’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $11.40.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th. Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $5.80 to $15.00 in a research report on Monday, January 13th. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Daiwa Capital Markets initiated coverage on Hesai Group in a report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 target price for the company.

Hesai Group 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.