Legal & General Group Plc Raises Holdings in Hesai Group Sponsored ADR $HSAI

Legal & General Group Plc boosted its holdings in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 10,399.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 266,779 shares of the company’s stock after acquiring an additional 264,238 shares during the quarter. Legal & General Group Plc’s holdings in Hesai Group were worth $5,976,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Hesai Group by 37.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after buying an additional 746 shares during the period. Quantbot Technologies LP purchased a new position in Hesai Group during the third quarter valued at approximately $123,000. Leonteq Securities AG purchased a new position in Hesai Group during the fourth quarter valued at approximately $106,000. Daiwa Securities Group Inc. purchased a new position in Hesai Group during the second quarter valued at approximately $108,000. Finally, Federated Hermes Inc. purchased a new position in Hesai Group during the second quarter valued at approximately $156,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Price Performance

NASDAQ HSAI opened at $18.49 on Friday. The firm’s fifty day simple moving average is $21.35 and its two-hundred day simple moving average is $22.90. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. Hesai Group Sponsored ADR has a 12-month low of $14.69 and a 12-month high of $30.85. The firm has a market capitalization of $2.59 billion, a P/E ratio of 42.02, a P/E/G ratio of 0.71 and a beta of 1.33.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The business had revenue of $98.71 million for the quarter, compared to analyst estimates of $96.50 million. Analysts forecast that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HSAI has been the topic of several research reports. BNP Paribas Exane initiated coverage on shares of Hesai Group in a report on Thursday, March 26th. They set an “outperform” rating on the stock. Wall Street Zen raised shares of Hesai Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Finally, Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $29.96.

About Hesai Group

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.