Hesai Group's stock experienced a significant intraday plummet of 9.65% on Wednesday. The sharp decline followed the release of the company's latest financial results and analyst actions.
The company reported quarterly earnings that beat expectations, with adjusted EPS of CNY1.11 versus the CNY0.99 estimate. However, revenue came in at CNY1.00 billion, missing the analyst consensus of CNY1.11 billion. Concurrently, BofA Securities lowered its price target on Hesai to HK$234 from HK$250, maintaining a Buy rating but reflecting reduced near-term optimism.
Additionally, Hesai Group disclosed the grant of 785,356 restricted share units (RSUs) to four directors and 70 employees under its 2021 incentive plan. While intended to retain talent and align interests, such equity awards can be perceived as dilutive to existing shareholders.
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