Fideuram Asset Management Ireland dac Takes Position in Hesai Group Sponsored ADR $HSAI

Fideuram Asset Management Ireland dac acquired a new stake in shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 359,707 shares of the company’s stock, valued at approximately $8,057,000. Fideuram Asset Management Ireland dac owned 0.26% of Hesai Group as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Hesai Group by 28.0% during the fourth quarter. Geode Capital Management LLC now owns 29,802 shares of the company’s stock valued at $668,000 after purchasing an additional 6,513 shares during the period. Themes Management Co LLC purchased a new stake in shares of Hesai Group during the fourth quarter valued at approximately $336,000. Legal & General Group Plc raised its stake in shares of Hesai Group by 10,399.0% during the fourth quarter. Legal & General Group Plc now owns 266,779 shares of the company’s stock valued at $5,976,000 after purchasing an additional 264,238 shares during the period. Leonteq Securities AG purchased a new stake in shares of Hesai Group during the fourth quarter valued at approximately $106,000. Finally, Maxi Investments CY Ltd bought a new stake in shares of Hesai Group in the fourth quarter worth $11,488,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Down 3.6%

HSAI stock opened at $19.89 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. Hesai Group Sponsored ADR has a 1-year low of $14.69 and a 1-year high of $30.85. The firm has a fifty day moving average price of $21.66 and a two-hundred day moving average price of $22.95. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 0.80 and a beta of 1.50.

Hesai Group (NASDAQ:HSAI) last released 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. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The firm had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. Research analysts predict that Hesai Group Sponsored ADR will post 0.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, 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. One 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $29.96.

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.