ESS Techの空売り状況は、投資家がESS Techの株価下落に賭けている度合いを知ることができます。空売りデータは2週間ごとに更新されます。

ESS Tech (NYSE:GWH) 株価情報, 空売り情報

ESS Tech

ESS Tech Inc is a long-duration energy storage company specializing in iron flow battery technology. The company design and produce long-duration batteries predominantly using earth-abundant materials.

ESS Tech Inc

Global Wholehealth Partners Corp

Macro Economic Events

News

Econ #s

Economics

France Jobseekers Total For October 2,891.5K Vs. 2,837.9K Prior

Needham analyst John Todaro reiterates Iris Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) with a Hold.

Reiteration

Analyst Ratings

IREN

Needham Reiterates Hold on Iris Energy

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Kohls Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>)</h3>
<ul>
<li>On Nov. 26, Kohl&#8217;s shares are trading lower after the company reported worse-than-expected third-quarter results, cut its FY24 EPS guidance, and projected a net sales decrease of 7%-8%. Tom Kingsbury, Kohl's chief executive officer, said, "Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses. Although we had a strong collective performance across our key growth areas, including Sephora, home decor, gifting, and impulse, and also benefited from the opening of Babies "R" Us shops in 200 of our stores, these were unable to offset the declines in our core business." The company's stock fell around 20% over the past month and has a <a href="https://www.benzinga.com/quote/KSS">52-week low of $14.22</a>.</li>
<li>RSI Value: 26.35&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>KSS Price Action: Shares of Kohls fell 17% to close at $15.22 on Tuesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1">latest KSS news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="902" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063354/image-287.png" alt="" class="wp-image-667133" style="width:647px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063354/image-287.png 902w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063354/image-287-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063354/image-287-768x713.png 768w" sizes="(max-width: 902px) 100vw, 902px" /></a></figure>
<h3 class="wp-block-heading">Honda Motor Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Nov. 6, Honda Motor reported a decline in the first-half profit and lowered its annual profit forecast. The company reported the first half of FY24 revenue growth of 12.4% year over year 10.798 trillion yen ($69.9 billion), while profits declined 19.7% to 494.6 billion Yen ($3.20 billion). The company's stock fell around 17% over the past month and <a href="https://www.benzinga.com/quote/HMC">has a 52-week low </a>of $25.57.</li>
<li>RSI Value: 25.03</li>
<li>HMC Price Action: Shares of Honda fell 3% to close at $25.87 on Tuesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the trend in <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1">HMC stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="923" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063503/image-288.png" alt="" class="wp-image-667139" style="width:762px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063503/image-288.png 923w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063503/image-288-300x274.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063503/image-288-768x701.png 768w" sizes="(max-width: 923px) 100vw, 923px" /></a></figure>
<h3 class="wp-block-heading">PDD Holdings Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>)</h3>
<ul>
<li>On Nov. 21, PDD Holdings reported worse-than-expected third-quarter financial results. PDD reported fiscal third-quarter 2024 revenue growth of 44% year-on-year to $14.16 billion (68.84 billion Chinese yuan), missing the analyst consensus estimate of $14.47 billion. The company's stock fell around 21% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/PDD">low of $88.01.</a></li>
<li>RSI Value: 29.89</li>
<li>PDD Price Action: Shares of PDD fell 1.4% to close at $99.31 on Tuesday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1">breakout in PDD shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="898" height="841" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063612/image-289.png" alt="" class="wp-image-667140" style="width:744px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063612/image-289.png 898w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063612/image-289-300x281.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27063612/image-289-768x719.png 768w" sizes="(max-width: 898px) 100vw, 898px" /></a></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42188912/jim-cramer-linde-is-a-terrific-company-sees-another-stock-up-75-as-not-done">Jim Cramer: Linde Is A &#8216;Terrific&#8217; Company, Sees Another Stock Up 75% As &#8216;Not Done&#8217;</a></li>
</ul>

Long Ideas

Pre-Market Outlook

Trading Ideas

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Top 3 Consumer Stocks That Are Set To Fly In Q4

HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterates Axsome Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) with a Buy and maintains $180 price target.

Price Target

AXSM

HC Wainwright & Co. Reiterates Buy on Axsome Therapeutics, Maintains $180 Price Target

Needham analyst Mike Cikos maintains Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) with a Buy and raises the price target from $80 to $90.

NTNX

Needham Maintains Buy on Nutanix, Raises Price Target to $90

K'alo-Stantec has been selected by the Government of the Northwest Territories (GNWT) Department of Infrastructure to continue completing the environment assessment and secure necessary regulatory authorizations for the proposed Mackenize Valley Highway (MVH). K'alo-Stantec has a long-term relationship with GNWT and has been key in maintaining the continuity of advancing the MVH project.
The project will establish a critical transportation corridor into Canada's Arctic, connecting three communities-Wrigley, Tulita, and Norman Wells-by replacing a 320-kilometre winter road with an all-season road.

Contracts

K'alo-Stantec Selected To Provide Environmental Consulting Services For Mackenzie Valley Highway

Needham analyst Mike Cikos maintains CrowdStrike Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a Buy and raises the price target from $360 to $420.

CRWD

Needham Maintains Buy on CrowdStrike Holdings, Raises Price Target to $420

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has accelerated progress on its advanced 2-nanometer fab in Kaohsiung. The company held an equipment installation ceremony six months before schedule, reflecting its efforts to meet the global demand for advanced chips.
Kaohsiung Mayor Chen Chi-mai highlighted the milestone during a city council Q&amp;A session, noting the facility&#8217;s potential to boost artificial intelligence (AI) applications and stimulate industrial transformation in the region, Taipei Times <a target="_blank" href="https://www.taipeitimes.com/News/front/archives/2024/11/27/2003827547" rel="noreferrer noopener">reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42195174/spotify-introduces-marketing-tools-for-audiobook-authors" rel="noreferrer noopener">Spotify Introduces Marketing Tools For Audiobook Authors</a>
The chipmaker plans to establish four additional fabs in Kaohsiung, complementing its existing 3-nanometer and 5-nanometer facilities. According to Mayor Chen, these developments aim to form one of the most valuable semiconductor clusters globally. Several material, equipment, and parts suppliers have also set up operations in the city, further strengthening the ecosystem.
Taiwan Semiconductor confirmed to the Taipei Times that its 2-nanometer technology is on track for mass production next year, with performance and yield already meeting or exceeding expectations. The chipmaker is constructing a similar production line at its Hsinchu facility.
Chairman and CEO C.C. Wei recently told investors that demand for 2-nanometer technology has exceeded expectations, surpassing even the 3-nanometer capacity.
The chips are slated for smartphones and high-performance computing, with Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) expected to adopt them early.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27041315/newplot-14.png" alt="" class="wp-image-666951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27041315/newplot-14.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/27041315/newplot-14-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
<a target="_blank" href="https://www.benzinga.com/media/24/11/42168509/amd-teams-up-with-taiwan-semi-to-take-on-samsung-in-smartphone-market" rel="noreferrer noopener">Recent reports indicated</a> AMD leveraging Taiwan Semiconductor&#8217;s 3nm process to foray into the smartphone market, eying flagship devices like Samsung&#8217;s models.
Taiwan Semiconductor is also preparing capacity for <a target="_blank" href="https://www.benzinga.com/24/11/42060003/taiwan-semiconductors-us-subsidy-boosts-a16-tech-production-in-arizona" rel="noreferrer noopener">its A16 chips</a>, which are in high demand for AI server applications. Wei emphasized the company&#8217;s commitment to scaling 2-nanometer and A16 production to meet customer needs.
The chipmaker targets <a target="_blank" href="https://www.benzinga.com/24/11/42116366/taiwan-semiconductor-plans-new-factories-annually-boosting-domestic-chip-production" rel="noreferrer noopener">capital expenditures of</a> $34 billion—$38 billion in 2025 to meet demand for advanced semiconductor manufacturing.
Price Action: TSM stock is down 1.06% at $181.89 premarket at the last check on Wednesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/11/42193222/orange-taps-openai-meta-to-create-ai-that-speaks-african-languages" target="_blank" rel="noreferrer noopener">Meta, OpenAI, Orange Join Forces To Build AI Models For African Languages</a></li>
</ul>
Photo by wakamatsu.h via Shutterstock.

Equities

Tech

Media

AAPL

Taiwan Semiconductor Ramps Up 2nm Production: Apple And AMD First In Line

GSK's fully liquid Menveo meningococcal vaccine approved by European Commission
●
New fully liquid presentation means reconstitution is not needed before use
●
Formulation supports simplification of vaccination process against invasive meningococcal disease (IMD)

GSK's Fully Liquid Menveo Meningococcal Vaccine Approved By European Commission

Needham analyst David Saxon reiterates Cooper Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>) with a Hold.

Needham Reiterates Hold on Cooper Companies

Needham analyst Mike Matson reiterates Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) with a Hold.

Needham Reiterates Hold on Boston Scientific

QuantaSing Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QSG#NASDAQ">QSG</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.18 by 33.33 percent. The company reported quarterly sales of $115.48 million which missed the analyst consensus estimate of $135.22 million by 14.60 percent. This is a 3.06 percent decrease over sales of $119.13 million the same period last year.

Earnings

QuantaSing Group Q1 2025 Adj EPADS $0.24 Beats $0.18 Estimate, Sales $115.48M Miss $135.22M Estimate

Stephens &amp; Co. analyst Andrew Terrell initiates coverage on Plumas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLBC#NASDAQ">PLBC</a>) with a Overweight rating and announces Price Target of $60.

Initiation

PLBC

Stephens & Co. Initiates Coverage On Plumas with Overweight Rating, Announces Price Target of $60

On Tuesday, November 26th, U.S. markets ended higher, with tech stocks rebounding as investors weighed Fed minutes signaling policy uncertainty and Trump&#8217;s new tariff threats. Automakers Ford and GM saw declines due to fears of rising supply chain costs and trade tensions.
In economic data, the S&amp;P Case-Shiller index rose 4.6% year over year in September, down from 5.2% in August. Meanwhile, new single-family home sales in the U.S. dropped 17.3% in October to an annualized rate of 610,000.
The majority of S&amp;P 500 sectors rose, led by utilities, communication services, and consumer discretionary, while energy and materials fell.
The Dow Jones Industrial Average was up 0.28% and closed at 44,860.31, the S&amp;P 500 gained 0.57% to 6,021.60, and the Nasdaq Composite rose 0.63% to finish at 19,174.30.
Asia Markets Today
On Wednesday, Japan&#8217;s Nikkei 225 declined 0.78% and ended the session at 38,111.50, led by losses in the Shipbuilding, Paper &amp; Pulp, and Chemical, Petroleum &amp; Plastic sectors.
Australia&#8217;s S&amp;P/ASX 200 gained 0.57% and ended the day at 8,406.70, led by gains in the Gold, Consumer Discretionary, and Telecoms Services sectors.
India&#8217;s Nifty 50 rose 0.35% to 24,278.20, and Nifty 500 gained 0.59%, closing at 22,696.15, led by gains in the Power, Capital Goods, and Public Sector Undertakings sectors.
China&#8217;s Shanghai Composite gained 1.53% to close at 3,309.78, and the Shenzhen CSI 300 rose 1.74%, finishing the day at 3,907.04.
Hong Kong&#8217;s Hang Seng was up 2.32% and closed the session at 19,603.13.
Eurozone at 05:30 AM ET
The European STOXX 50 index was down 0.85%.
Germany&#8217;s DAX fell 0.52%.
France&#8217;s CAC declined 1.23%.
FTSE 100 traded higher by 0.12%.
Commodities at 05:30 AM ET
Crude Oil WTI was trading higher by 0.29% at $68.96/bbl, and Brent was up 0.25% at $72.50/bbl.
Oil prices steadied as markets assessed an Israel-Hezbollah ceasefire and anticipated OPEC+ delaying output hikes.
Natural Gas slid 4.27% to $3.319.
Gold was trading higher by 1.05% at $2,673.40, Silver was up 0.33% to $30.935, and Copper rose 0.98% to $4.1578.
U.S. Futures at 05:30 AM ET
Dow futures declined 0.08%, S&amp;P 500 futures were down 0.17% and Nasdaq 100 futures slid 0.33%.
Forex at 05:30 AM ET
The U.S. Dollar Index fell 0.53% to 106.45, USD/JPY was down 1.12% at 151.37 and USD/AUD slid 0.14% to 1.5425.
The U.S. dollar dropped to a one-week low as markets digested Trump&#8217;s tariff pledges and prepared for month-end rebalancing, while the yen strengthened on expectations of rate hikes.
Photo by Pavel Bobrovskiy via Shutterstock.

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asia Mostly In Green, Europe Markets Decline; Crude Oil And Gold Rise While Dollar Dips - Global Markets Today While US Slept

The workforce reduction is expected to be substantially completed on December 31, 2024.
In connection with the reduction in workforce, the Company expects to incur a charge of approximately $3.7 million relating to the cash-based expense of the employee severance, benefits, and related costs.
The Company anticipates payments associated with the workforce reduction will be substantially complete by the end of the first quarter of 2025.
On November 22, 2024, Deborah Knobelman, the Company's Chief Financial Officer and Chief Operating Officer, was appointed to serve as President and Interim Chief Executive Officer, effective December 3, 2024. Knobelman will also continue to serve as the Company's Chief Financial Officer and Chief Operating Officer.

Management

KRON

On November 22, Kronos Bio Board Approved Approximately 83% Reduction In Its Workforce; Norbert Bischofberger Resigns As President And CEO, Effective December 3, 2024 - Filing

In a notable rebound, MicroStrategy Inc. experienced an 8.03% rise in pre-market trading on Wednesday following the slow recovery of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). This comes after a significant 12.33% drop and closing at $353.69 the previous day, as per <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
What Happened: On Wednesday, at 6:00 AM ET, Bitcoin was trading around $93,789.55 after dropping to $92,000 levels on Tuesday. Consecutively, MicroStrategy, with a holding of 386,700 Bitcoins valued at $35.4 billion, experienced an upward tick in its pre-market activity.
The company, under the leadership of CEO Michael Saylor, has been a focal point of market speculation due to a 23.64% decline in its stock over the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42208320/michael-saylors-microstrategy-plunges-23-in-5-sessions-while-bitcoin-slips-under-6-gary-black-quips-dont-say-i-didnt-warn-you">past five sessions.</a> This period also saw a 5.52% decrease in Bitcoin.
Analysts are questioning the sustainability of the company&#8217;s strategy which involves borrowing through convertible notes to buy Bitcoin, then selling shares at a premium to reinvest in more Bitcoin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173805/bitcoin-dogecoin-dip-ethereum-stays-green-trader-predicts-first-major-btc-correction-only-after-one-key-level-hits?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin Dip, Ethereum Stays Green: Trader Predicts &#8216;First Major BTC Correction&#8217; Only After One Key Level Hits</a>
Last week marked a record for retail investment in MicroStrategy, with nearly $100 million invested and trading volume reaching $136 billion, surpassing even Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Based on the ratings of 12 analysts, MicroStrategy has a consensus price target of $449.5 The high is $690 issued by BTIG on Dec. 11, 2023. The low is $140 issued by Jefferies on Nov. 10, 2022.
The average price target of $563.33 between TD Cowen, Barclays, and Benchmark implies a 41.90% upside for MicroStrategy.
Why It Matters: MicroStrategy&#8217;s <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">recent $3 billion offering</a> of 0% convertible senior notes due 2029 has intrigued investors. These notes, offering no interest, were quickly snapped up by institutional buyers, indicating strong market interest despite the lack of traditional returns. The notes&#8217; high conversion rate and potential equity upside have been attractive to investors.
However, the company&#8217;s stock has been under scrutiny. Gary Black of<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42208320/michael-saylors-microstrategy-plunges-23-in-5-sessions-while-bitcoin-slips-under-6-gary-black-quips-dont-say-i-didnt-warn-you"> The Future Fund LLC</a> has raised concerns about MicroStrategy&#8217;s valuation, suggesting it should be significantly lower than its current price. Black&#8217;s analysis points to a potential overvaluation, with a suggested price of $105 per share, which is about 75% lower than its current trading price.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173367/shiba-inu-burn-rate-soars-487-in-a-day-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Soars 487% In A Day: What Is Going On?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo by JOCA_PH on Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$BTC

AMZN

MicroStrategy Surges 8% In Wednesday Pre-Market: What's Going On?

Stephens &amp; Co. analyst Andrew Terrell initiates coverage on Bank of Hawaii (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>) with a Overweight rating and announces Price Target of $90.

Stephens & Co. Initiates Coverage On Bank of Hawaii with Overweight Rating, Announces Price Target of $90

Stephens &amp; Co. analyst Andrew Terrell initiates coverage on First Hawaiian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>) with a Equal-Weight rating and announces Price Target of $30.

Stephens & Co. Initiates Coverage On First Hawaiian with Equal-Weight Rating, Announces Price Target of $30

Biotech

Large Cap

Health Care

BGNE

The European Commission Has Approved BeiGene's Tevimbra (Tislelizumab) In Combination With Chemotherapy For The First-line Treatment Of Esophageal Squamous Cell Carcinoma And Gastric Or Gastroesophageal Junction Adenocarcinoma

<h4>Key Takeaways:</h4>
<ul>
<li>Hesai&rsquo;s third quarter revenue rose 21.1% year-on-year to 540 million yuan ($76.9 million), surpassing the top end of its earlier guidance.</li>
<li>The company could generate $100 million in fourth-quarter revenue and achieve non-GAAP profitability for 2024, hoping it can become the first profitable automotive LiDAR firm</li>
</ul>
By Teri Yu
In the fast-evolving and highly competitive autonomous driving sensor technology market,&nbsp;Hesai Group&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsai#NASDAQ">HSAI</a>) is driving ahead with rapid growth and a clear path toward profitability. As the world&rsquo;s largest supplier of light detection and ranging (LiDAR) technology for automotive and robotic applications, Hesai is capitalizing on its market leadership to advance the mainstream adoption of autonomous and assisted driving technologies and position itself as a sustainable business in the long term.
The company&rsquo;s&nbsp;<a href="https://www.globenewswire.com/news-release/2024/11/25/2987107/0/en/Hesai-Group-Reports-Third-Quarter-2024-Unaudited-Financial-Results.html">third-quarter results</a>, released Tuesday, showcased strong double-digit revenue growth of 21% year-on-year to 540 million yuan ($76.9 million), up from 445.6 million yuan a year earlier, driven by surging demand for its advanced driver assistance system (ADAS) LiDAR products in China. Even more notable, Hesai&rsquo;s shipments soared 183% year-on-year in the latest quarter as the company ramps up partnerships with global automotive giants.
&ldquo;We are thrilled to share that our business continues to thrive and advance on a strong growth path,&rdquo; said David Li, Hesai&rsquo;s co-founder and CEO. &ldquo;This quarter, we have made significant strides in the ADAS market, securing new design wins, partnerships, and development programs with key players.&rdquo;
Hesai&rsquo;s growth story hinges on its ability to combine technical innovation with operational efficiency. Its ADAS LiDAR shipments reached 134,208 units in the third quarter, marking its second consecutive quarter of nearly 50% sequential growth and an increase of 183% year-on-year. Its ADAS LiDAR shipments accounted for 97% of that total, more than tripling to 129,913.
Achieving economies of scale has become one of the biggest challenges for autonomous driving sensor technology companies, which must compete with numerous rivals to convince car makers to use their products in mass-produced models. Hesai is on the road to meeting that goal, and has halved its losses to 70.4 million yuan in the latest quarter from 141.8 million yuan a year earlier.
The company&rsquo;s stock jumped 44% on Tuesday after the announcement.
The race to dominance in the global LiDAR market depends largely on who can partner with the most carmakers, often new energy vehicle (NEV) brands. On that front, Hesai boasts a roster of leading Chinese clients like Li Auto, Baidu and Geely. Its roster of partners expanded further in the third quarter to include SAIC Volkswagen, Leapmotor, a premium EV brand backed by a leading Chinese automotive group, and one of Japan&rsquo;s top-three OEMs, setting the stage for future growth outside its home market.
Hesai is already a dominant automotive LiDAR supplier globally with 37% market share, according to Yole Intelligence. It made additional progress during the quarter on this front by delivering sample products to a leading automotive OEM. The company is also a global leader in Level 4 (L4) autonomous driving LiDAR, which represents near-fully autonomous driving, with 74% market share and nine out of the 10 leading autonomous driving companies from that segment using its products. International sales beyond China account for nearly half of Hesai&rsquo;s revenue with over 47% of sales from international clients last year.
<h3>$100 Million Revenue Milestone</h3>
As Hesai continues to make strong progress, the company is targeting $100 million in revenue for the current quarter, powered by a projected 200,000-unit shipment milestone, which is equivalent to its total shipments in the entire previous year. Hesai is also on the brink of another major milestone, forecasting a net profit of $20 million and positive operating cash flow in the fourth quarter, which would secure full-year profitability on a non-GAAP basis. Such a milestone could pave the way for sustained profitability and growth, a rare achievement in the automotive LiDAR industry.
&ldquo;This anticipated explosive growth underscores our momentum as we drive toward a landmark fiscal year finish, positioning us as the first autonomous LiDAR company worldwide to achieve this remarkable milestone,&rdquo; said Andrew Fan, Hesai&rsquo;s newly appointed CFO.
Hesai is riding the crest of a booming global autonomous driving market that&rsquo;s projected to grow from $1.92 trillion in 2023 to $13.63 trillion by 2030, according to Fortune Business Insights.
The company&rsquo;s LiDAR systems, which use light to gauge the location of objects in ADAS-equipped and self-driving cars, are already being used in a wide range of vehicles from robotaxis to consumer electric vehicles (EVs) and even robotrucks and robo-sweepers.
China is leading the global push for autonomous driving technology with pilot programs across the country already in operation or in planning. For its latest initiative launched in June, the central government selected 20 cities to participate in a pilot program aimed at developing cutting-edge roadside infrastructure and a cloud-based control platform for smart connected vehicles. Most of China&rsquo;s leading autonomous driving companies are using Hesai technology to pursue their goals, including Baidu Apollo, AutoX, and WeRide.
<h3>Outperforming Industry Metrics</h3>
While the global autonomous market is crowded, Hesai outperforms most of its domestic and global peers in terms of key metrics like revenue, gross margin, cash flow and cash reserves, by pairing technical innovation with cost controls.
Even so, the stock trades at a relatively low price-to-sales (P/S) ratio of 2.39 &mdash; a significant discount compared to competitors&nbsp;RoboSense&nbsp;at 4.63 and&nbsp;Luminar&nbsp;at 3.63.
Analysts are largely positive about Hesai&rsquo;s ability to expand globally and further improve its financials as it secures more mass production partnerships with both Chinese and international automakers. The company&rsquo;s in-house manufacturing and R&amp;D integration, along with its proprietary technology, are also considered competitive advantages.
Investors appear positive, too, with seven of eight analysts surveyed by Yahoo Finance now rating the company a &ldquo;buy&rdquo; or &ldquo;strong buy,&rdquo; suggesting they believe the stock is undervalued.
Established in Silicon Valley in 2014, Hesai quickly gained recognition for its product performance, quality and cost effectiveness, and its LiDAR products were quickly adopted by several top autonomous driving companies. It made headlines in early 2023 when its $190 million Nasdaq IPO was not only one of the largest listings by a Chinese company in New York in more than two years, but also one of the first by a Chinese autonomous driving concept company.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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