Legal & General Group Plc Purchases 264,238 Shares of Hesai Group Sponsored ADR $HSAI

Legal & General Group Plc boosted its position in Hesai Group Sponsored ADR (NASDAQ:HSAI) by 10,399.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 266,779 shares of the company’s stock after purchasing an additional 264,238 shares during the period. Legal & General Group Plc owned approximately 0.19% of Hesai Group worth $5,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in HSAI. SBI Securities Co. Ltd. lifted its stake in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after purchasing an additional 746 shares during the last quarter. Leonteq Securities AG bought a new stake in Hesai Group in the fourth quarter worth about $106,000. Daiwa Securities Group Inc. bought a new stake in Hesai Group in the second quarter worth about $108,000. Quantbot Technologies LP bought a new stake in Hesai Group in the third quarter worth about $123,000. Finally, Federated Hermes Inc. bought a new stake in Hesai Group in the second quarter worth about $156,000. Institutional investors own 48.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hesai Group Stock Performance

Shares of NASDAQ:HSAI opened at $18.49 on Friday. The firm has a market cap of $2.59 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.33. The firm’s 50 day simple moving average is $21.35 and its 200-day simple moving average is $22.90. Hesai Group Sponsored ADR has a one year low of $14.69 and a one year high of $30.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $98.71 million for the quarter, compared to analyst estimates of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. As a group, equities analysts predict that Hesai Group Sponsored ADR will post 0.66 EPS for the current year.

Hesai Group Profile

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.