Global X Management Co. LLC recently announced the acquisition of new stake in Hesai Group ADR (NASDAQ:HSAI). This fresh investment now brings its stake to 1.10% valued currently at $9.32 million. In addition, Fideuram Asset Management raised its holdings by 22614.0 to 0.85 million shares. And Eastspring Investments has lifted its position by 1.92% or 11119.0 shares – to 0.59 million shares.
With over 0.44 million Hesai Group ADR (HSAI) shares trading Friday and a closing price of $7.71 on the day, the dollar volume was approximately $3.39 million. The shares have shown a negative half year performance of -38.76% and its price on 01/12/24 lost nearly -5.98%. Currently, there are 95.50M common shares owned by the public and among those 83.78M shares have been available to trade.
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The top 3 mutual fund holders in Hesai Group ADR are Fidelity China Special Situations, Fidelity Inv. Trust – Emerging Ma, and Global X Robotics & Artificial In. Fidelity China Special Situations owns 1.4 million shares of the company’s stock, all valued at over $12.45 million. Global X Robotics & Artificial In sold 16000.0 shares to bring its total holdings to over 1.05 million shares at a value of $9.35 million. Global X Robotics & Artificial In now owns shares totaling to 1.10% of the shares outstanding.
Shares of Hesai Group ADR (NASDAQ: HSAI) opened at $8.30, up $0.1 from a prior closing price of $8.20. However, the script later moved the day high at 8.35, down -5.98%. The company’s stock has a 5-day price change of -4.70% and -22.59% over the past three months. It has a 12-month low price of $7.35 and touched a high of $30.35 over the same period. HSAI has an average intraday trading volume of 521.83K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.70%, -18.39%, and -24.57% respectively.
Institutional ownership of Hesai Group ADR (NASDAQ: HSAI) shares accounts for 9.66% of the company’s 95.50M shares outstanding. Mutual fund holders own 1.71%, while other institutional holders and individual stakeholders account for 8.25% and — respectively.
It has a market capitalization of $736.31M. The earnings-per-share (ttm) stands at -$0.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.14% over the week and 5.70% over the month.
Analysts forecast that Hesai Group ADR (HSAI) will achieve an EPS of -$0.12 for the current quarter, $0 for the next quarter and -$0.09 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 52.99%, and 73.29% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Hesai Group ADR (HSAI) as a “Strong Buy” at a consensus score of 1.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HSAI, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on September 26, 2023, with the firm’s price target at $12.90.
