Hesai Group (NASDAQ:HSAI) Announces Earnings Results

Hesai Group (NASDAQ:HSAI) posted its quarterly earnings data 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, Zacks reports. 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 for the quarter, compared to analysts’ expectations of $96.50 million.

Hesai Group Trading Up 2.9%

Hesai Group stock traded up $0.53 during trading hours on Monday, reaching $18.68. The company had a trading volume of 332,085 shares, compared to its average volume of 1,982,636. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The company has a 50-day moving average price of $21.28 and a 200 day moving average price of $22.99. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 42.46, a P/E/G ratio of 0.70 and a beta of 1.34. Hesai Group has a 12-month low of $14.69 and a 12-month high of $30.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Schroder Investment Management Group increased its stake in shares of Hesai Group by 17,419.6% in the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock worth $46,276,000 after buying an additional 2,054,114 shares during the period. Wellington Management Group LLP grew its holdings in Hesai Group by 2.1% in the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock worth $42,303,000 after acquiring an additional 38,312 shares during the last quarter. Deutsche Bank AG grew its holdings in Hesai Group by 124.6% in the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after acquiring an additional 901,370 shares during the last quarter. National Bank of Canada FI increased its position in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock valued at $41,647,000 after acquiring an additional 770,816 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Hesai Group by 8,076.3% during the fourth quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock valued at $28,311,000 after acquiring an additional 1,248,436 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HSAI shares. Wall Street Zen lowered Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Finally, BNP Paribas Exane began coverage on Hesai Group in a research report on Thursday, March 26th. They issued an “outperform” rating for the company. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.12.

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.