Hesai Group (NASDAQ:HSAI) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Hesai Group (NASDAQ:HSAI) issued its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06), FiscalAI reports. The business had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $155.57 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%.

Hesai Group Trading Up 3.2%

Shares of NASDAQ HSAI opened at $23.58 on Tuesday. The business has a 50 day simple moving average of $25.86 and a 200 day simple moving average of $24.36. Hesai Group has a 52 week low of $10.41 and a 52 week high of $30.85. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 56.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HSAI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. CICC Research started coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. One investment 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’s stock. According to data from MarketBeat.com, Hesai Group has a consensus rating of “Buy” and an average price target of $29.96.

Institutional Trading of Hesai Group

Several large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in Hesai Group by 2.8% during the fourth quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock worth $357,000 after buying an additional 430 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Hesai Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after buying an additional 726 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Hesai Group by 9.7% during the 4th quarter. Vontobel Holding Ltd. now owns 23,957 shares of the company’s stock worth $537,000 after acquiring an additional 2,123 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Hesai Group during the 3rd quarter valued at about $71,000. Finally, Brooklyn Investment Group raised its stake in shares of Hesai Group by 22.3% in the 4th quarter. Brooklyn Investment Group now owns 18,781 shares of the company’s stock valued at $422,000 after acquiring an additional 3,425 shares in the last quarter. 48.53% of the stock is owned by institutional investors.

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.