Hesai Group (NASDAQ:HSAI) Issues Quarterly Earnings Results

Hesai Group (NASDAQ:HSAI) announced its quarterly 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 Stock Down 8.1 %

Shares of NASDAQ HSAI traded down $1.42 during mid-day trading on Monday, reaching $16.01. The company had a trading volume of 3,205,096 shares, compared to its average volume of 1,529,237. 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 twelve month low of $3.52 and a twelve month high of $20.18. The stock’s 50 day moving average is $16.10 and its 200-day moving average is $9.58. The stock has a market capitalization of $2.03 billion, a PE ratio of -36.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07.

Analyst Ratings Changes

HSAI has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $5.50 to $18.40 in a research note 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.