Hesai Group Stock Hits 18-Month High On Record Lidar Deliveries In A Month: Retail Sentiment Brightens

U.S.-listed shares of Hesai Group (HSAI) surged over 9% in midday trading Monday, reaching an 18-month high of $15.49. 

The rally came after the lidar technology company announced it was the first in the industry to deliver more than 100,000 lidar units in a single month. 

The stock last traded at these levels in April 2023, shortly after its public listing.

The company also reported delivering over 20,000 lidar units to the robotics market in December, marking a record for that segment.

Hesai Group is known for providing lidar products used in advanced driver assistance systems (ADAS) and autonomous vehicles. Its clients include Lotus, Nio Motors, Baidu, and Apollo. 

It also disclosed that in 2025, its planned annual capacity will exceed two million units, supported by the company's mass production capabilities and research and development innovation.

 

Hesai Group-ADR Sentiment and Message Volume on Dec 30 as of 12:14 p.m. ET | Source: Stocktwits

Retail sentiment around the stock surged to ‘extremely bullish’ from ‘bullish’ a week ago, with chatter jumping to ‘high’ from ‘normal’ levels. 

The stock’s recent momentum builds on a rebound that began in late November following the release of the company's third-quarter earnings. 

Revenue for the quarter was $76.9 million, a 21.1% year-over-year increase. Total lidar shipments jumped 182% quarter-over-quarter, with ADAS-specific shipments rising 220% to 129,913 units in Q3.

More notably, Hesai Group forecasted achieving full-year profitability in 2024, positioning itself as the first automotive lidar company globally to reach this milestone. 

The stock has jumped 196% since the forecast, clocking in gains of 76% year-to-date. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

Read also: Bitcoin’s Drop To $93K Drags BTC Mining Stocks: Retail Sentiment Remains Frosty