Hesai Group (NASDAQ:HSAI) Announces Quarterly Earnings Results

Hesai Group (NASDAQ:HSAI) released its earnings results on Monday. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($1.27), Zacks reports. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%.

Hesai Group Trading Down 8.1 %

NASDAQ:HSAI traded down $1.42 during mid-day trading on Monday, hitting $16.01. The company had a trading volume of 3,205,096 shares, compared to its average volume of 1,529,237. The firm has a market cap of $2.03 billion, a P/E ratio of -36.39, a P/E/G ratio of 1.44 and a beta of 1.07. The business’s fifty day moving average is $16.10 and its two-hundred day moving average is $9.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $20.18.

Analyst Ratings Changes

Several research firms have recently weighed in on HSAI. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th.

About Hesai Group

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.