Why Lidar Solutions Provider Hesai Shares Are Surging Today
Portfolio Pulse from Akanksha Bakshi
Hesai Group (NASDAQ:HSAI), a provider of lidar solutions, is experiencing a surge in its share price following the announcement of preliminary, unaudited results for Q4 and the full year 2023. The company expects Q4 net revenues to exceed the top end of its guidance and anticipates total lidar shipments for 2023 to surpass 220,000 units, a significant increase from 2022. Hesai also expects to beat its goal of shipping 200,000 ADAS lidar units. The CEO highlighted a record December with over 50,000 lidar units shipped and expressed confidence in the company's position in the lidar industry. Hesai's shares are up by 8.64% at $8.30.
January 11, 2024 | 4:58 pm
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Hesai Group's stock is surging due to positive preliminary Q4 and full-year 2023 results, with expected revenue and lidar shipments exceeding prior guidance.
The positive preliminary results indicate strong financial performance and growth in product shipments, which typically lead to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100