Hesai Group (NASDAQ:HSAI) Releases Earnings Results, Beats Estimates By $0.01 EPS

Hesai Group (NASDAQ:HSAI) posted its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $96.50 million.

Hesai Group Stock Performance

Hesai Group stock opened at $14.80 on Monday. 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 firm has a market capitalization of $2.07 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. Hesai Group has a 1-year low of $14.40 and a 1-year high of $30.85. The company’s 50-day moving average is $20.19 and its 200 day moving average is $22.78.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of recent research reports. BNP Paribas Exane initiated coverage on Hesai Group in a research report on Thursday, March 26th. They set an “outperform” rating on the stock. Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $30.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HSAI. Legal & General Group Plc purchased a new stake in shares of Hesai Group in the third quarter worth approximately $71,000. Daiwa Securities Group Inc. bought a new position in Hesai Group in the 2nd quarter valued at $108,000. Royal Bank of Canada increased its stake in Hesai Group by 15.8% in the fourth quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after purchasing an additional 726 shares during the period. Quantbot Technologies LP purchased a new stake in Hesai Group in the third quarter worth $123,000. Finally, Federated Hermes Inc. bought a new stake in shares of Hesai Group during the second quarter worth $156,000. Institutional investors own 48.53% of the company’s stock.

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.