Hesai Group Sponsored ADR $HSAI Shares Purchased by Long Corridor Asset Management Ltd

Long Corridor Asset Management Ltd raised its stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) by 270.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 370,000 shares of the company’s stock after purchasing an additional 270,000 shares during the period. Hesai Group accounts for 0.5% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 9th largest position. Long Corridor Asset Management Ltd owned about 0.26% of Hesai Group worth $8,288,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Hesai Group during the third quarter worth approximately $71,000. SBI Securities Co. Ltd. increased its position in Hesai Group by 37.4% during 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. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Hesai Group in the fourth quarter worth $88,000. Quantbot Technologies LP acquired a new stake in shares of Hesai Group in the third quarter worth $123,000. Finally, Leonteq Securities AG acquired a new stake in shares of Hesai Group in the fourth quarter worth $106,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HSAI shares. BNP Paribas Exane started coverage on shares of Hesai Group in a research report on Thursday, March 26th. They issued an “outperform” rating for the company. Wall Street Zen raised shares of Hesai Group from a “sell” rating to a “hold” rating in a research 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 research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Hesai Group currently has a consensus rating of “Buy” and an average target price of $30.13.

Hesai Group Price Performance

Shares of HSAI stock opened at $18.06 on Friday. The company has a market capitalization of $2.53 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 0.67 and a beta of 1.33. The firm has a fifty day simple moving average of $21.32 and a 200-day simple moving average of $22.99. 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 twelve month low of $14.69 and a twelve month high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. Equities research analysts anticipate that Hesai Group Sponsored ADR will post 0.66 earnings per share for the current fiscal year.

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.