Hesai Group (NASDAQ:HSAI) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Hesai Group (NASDAQ:HSAIGet Free Report) announced its earnings results on Monday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11, Zacks reports. The business had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%.

Hesai Group Price Performance

HSAI stock opened at $19.94 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $16.28 and its two-hundred day moving average price is $14.65. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -45.45, a PEG ratio of 1.44 and a beta of 1.18. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hesai Group stock. Goldman Sachs Group Inc. grew its holdings in shares of Hesai Group (NASDAQ:HSAIFree Report) by 345.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,239,625 shares of the company’s stock after buying an additional 961,493 shares during the period. Goldman Sachs Group Inc. owned 0.95% of Hesai Group worth $18,346,000 as of its most recent SEC filing. 48.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on HSAI. Daiwa Capital Markets initiated coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 target price on the stock. Daiwa America raised Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th.

View Our Latest Stock Report on Hesai Group

About Hesai Group

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Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.

Further Reading

Earnings History for Hesai Group (NASDAQ:HSAI)

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