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

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

Hesai Group Stock Down 7.3%

HSAI stock traded down $1.48 on Friday, hitting $18.68. 5,088,777 shares of the company's stock were exchanged, compared to its average volume of 2,766,923. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18. The firm has a 50 day moving average price of $16.35 and a two-hundred day moving average price of $14.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The stock has a market cap of $2.45 billion, a P/E ratio of -42.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HSAI. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. Daiwa Capital Markets began coverage on Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hesai Group stock. Goldman Sachs Group Inc. increased its holdings in shares of Hesai Group (NASDAQ:HSAI - Free Report) by 345.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,239,625 shares of the company's stock after buying an additional 961,493 shares during the quarter. Goldman Sachs Group Inc. owned 0.95% of Hesai Group worth $18,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 48.53% of the company's stock.

Hesai Group Company Profile

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.