Hesai Group (NASDAQ:HSAI) Posts Earnings Results, Misses Expectations By $0.06 EPS

Hesai Group (NASDAQ:HSAI) released its quarterly earnings data on Tuesday. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06), FiscalAI reports. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The company had revenue of $143.00 million during the quarter, compared to the consensus estimate of $155.57 million.

Hesai Group Stock Up 3.2%

NASDAQ:HSAI opened at $23.58 on Tuesday. Hesai Group has a 1 year low of $10.41 and a 1 year high of $30.85. The stock has a 50-day moving average price of $25.86 and a two-hundred day moving average price of $24.36. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 56.14 and a beta of 1.06. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04.

Hedge Funds Weigh In On Hesai Group

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HSAI shares. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. CICC Research initiated coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $29.96.

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.