Hesai Group (NASDAQ:HSAI) Issues Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Hesai Group reported quarterly EPS of $0.10, beating analysts’ consensus estimate of $0.08 by $0.02. The company posted a 14.75% net margin and 6.03% return on equity.
• Shares opened at $18.07, with a $2.53 billion market capitalization and a 12-month trading range of $14.29 to $30.85. Institutional investors and hedge funds own 48.53% of the stock.
• Wall Street’s consensus rating is “Buy”, based on one Strong Buy, four Buy and one Hold rating, with an average price target of $31.50.

Hesai Group (NASDAQ:HSAI - Get Free Report) posted its earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02, FiscalAI reports. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%.

Hesai Group Price Performance

NASDAQ:HSAI opened at $18.07 on Tuesday. The firm has a market cap of $2.53 billion, a PE ratio of 41.07, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. Hesai Group has a 12 month low of $14.29 and a 12 month high of $30.85. The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $16.85 and its two-hundred day moving average price is $20.84.

Institutional Trading of Hesai Group

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Hesai Group in the 3rd quarter worth approximately $71,000. Quantbot Technologies LP acquired a new stake in Hesai Group during the 3rd quarter valued at $123,000. Daiwa Securities Group Inc. acquired a new stake in Hesai Group during the 2nd quarter valued at $108,000. Royal Bank of Canada raised its position in Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company's stock valued at $119,000 after purchasing an additional 726 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Hesai Group in the 2nd quarter valued at $156,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HSAI. Wall Street Zen raised Hesai Group from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Hesai Group in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $31.50.

About Hesai Group

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.

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