M&T Bank Corp Takes Position in Hesai Group Sponsored ADR $HSAI

M&T Bank Corp purchased a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 39,901 shares of the company’s stock, valued at approximately $894,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Hesai Group during the 3rd quarter valued at about $71,000. Daiwa Securities Group Inc. acquired a new position in shares of Hesai Group during the 2nd quarter valued at about $108,000. Quantbot Technologies LP acquired a new position in shares of Hesai Group during the 3rd quarter valued at about $123,000. Federated Hermes Inc. acquired a new position in shares of Hesai Group during the 2nd quarter valued at about $156,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of Hesai Group during the 3rd quarter valued at about $223,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Hesai Group in a research report on Thursday, March 26th. They set an “outperform” rating on the stock. Weiss Ratings cut 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 Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $29.96.

Hesai Group Price Performance

HSAI stock opened at $21.60 on Monday. The company’s 50 day moving average price is $22.82 and its 200 day moving average price is $23.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.38 and a current ratio of 3.73. Hesai Group Sponsored ADR has a fifty-two week low of $14.69 and a fifty-two week high of $30.85. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 54.00 and a beta of 1.50.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Saturday, February 14th. The company reported $0.16 earnings per share for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. The firm had revenue of $143.00 million for the quarter. On average, equities research analysts anticipate that Hesai Group Sponsored ADR will post 0.65 EPS for the current fiscal year.

Hesai Group Company 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.