Hesai Group (NASDAQ:HSAI) Trading Down 3.4%

Hesai Group (NASDAQ:HSAI) traded down 3.4% during mid-day trading on Thursday . The company traded as low as $4.51 and last traded at $4.54. 109,068 shares were traded during mid-day trading, a decline of 85% from the average session volume of 732,240 shares. The stock had previously closed at $4.70.

Hesai Group Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 3.33 and a quick ratio of 2.84. The stock’s 50-day moving average price is $4.74 and its 200 day moving average price is $5.66.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.08) EPS for the quarter. Hesai Group had a negative net margin of 25.68% and a negative return on equity of 9.83%. The firm had revenue of $49.74 million during the quarter. Analysts predict that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently modified their holdings of HSAI. Knollwood Investment Advisory LLC bought a new position in shares of Hesai Group in the third quarter valued at approximately $2,272,000. Covalis Capital LLP bought a new position in shares of Hesai Group in the third quarter valued at approximately $899,000. Lansdowne Partners UK LLP bought a new position in shares of Hesai Group in the third quarter valued at approximately $870,000. Schroder Investment Management Group raised its position in shares of Hesai Group by 11.0% in the third quarter. Schroder Investment Management Group now owns 584,517 shares of the company’s stock valued at $5,845,000 after purchasing an additional 57,954 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new position in Hesai Group during the fourth quarter worth $178,000. Institutional investors own 48.53% of the company’s stock.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.