Hesai Group
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On May 20, 2024, Hesai issued a press release announcing its unaudited financial results for the first quarter of 2024. Among other items, Hesai reported revenue of $19.28 million, representing a year-over-year decline of 59.2% and missing consensus estimates by $27.68 million. In addition to “typical seasonal factors,” Hesai’s Chief Executive Officer cited “slower demand in our robotaxi business compared with the previous year.”
On this news, Hesai’s American depositary receipt price fell $0.73 per share, or 13.88%, to close at $4.53 per share on May 21, 2024.
