Hesai Group (NASDAQ:HSAI - Get Free Report) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 3,021,082 shares traded hands during trading, an increase of 12% from the previous session's volume of 2,697,153 shares.The stock last traded at $19.96 and had previously closed at $21.45.
The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. The company had revenue of $72.39 million for the quarter, compared to analysts' expectations of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on HSAI. Daiwa Capital Markets began coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective for the company. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.
Get Our Latest Stock Analysis on Hesai Group
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after buying an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Hesai Group during the 1st quarter valued at $42,000. Russell Investments Group Ltd. purchased a new position in shares of Hesai Group during the 1st quarter valued at $150,000. Renaissance Technologies LLC purchased a new position in shares of Hesai Group during the 4th quarter valued at $138,000. Finally, Sovereign Financial Group Inc. purchased a new position in shares of Hesai Group during the 1st quarter valued at $148,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.
Hesai Group Price Performance
The business's 50-day moving average price is $16.36 and its 200 day moving average price is $14.90. The stock has a market capitalization of $2.45 billion, a PE ratio of -42.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.
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.
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