Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.06

Hesai Group (NASDAQ:HSAI) gapped up before the market opened on Tuesday . The stock had previously closed at $4.06, but opened at $4.29. Hesai Group shares last traded at $4.27, with a volume of 119,043 shares.

Hesai Group Trading Up 4.9 %

The company has a quick ratio of 2.68, a current ratio of 3.16 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average is $4.10 and its 200 day moving average is $4.53. The company has a market cap of $541.14 million, a price-to-earnings ratio of -7.96 and a beta of 1.43.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Monday, August 19th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $63.14 million for the quarter. Hesai Group had a negative net margin of 25.30% and a negative return on equity of 9.22%. Research analysts predict that Hesai Group will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC lifted its position in shares of Hesai Group by 34.2% in the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after acquiring an additional 4,912 shares in the last quarter. Renaissance Technologies LLC raised its stake in Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Hesai Group in the 4th quarter valued at $590,000. Susquehanna Fundamental Investments LLC acquired a new stake in Hesai Group during the 1st quarter worth $352,000. Finally, Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in shares of Hesai Group during the fourth quarter worth $774,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Company Profile

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.