Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.74

Hesai Group (NASDAQ:HSAI) shares gapped up before the market opened on Monday . The stock had previously closed at $4.74, but opened at $4.96. Hesai Group shares last traded at $5.07, with a volume of 609,315 shares traded.

Hesai Group Price Performance

The stock has a market cap of $612.27 million, a P/E ratio of -9.29 and a beta of 1.43. The business has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $4.50. The company has a current ratio of 3.16, a quick ratio of 2.68 and a debt-to-equity ratio of 0.09.

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

Institutional Investors Weigh In On Hesai Group

Several large investors have recently modified their holdings of the company. Polunin Capital Partners Ltd acquired a new position in Hesai Group in the first quarter valued at $5,323,000. GSA Capital Partners LLP bought a new stake in shares of Hesai Group during the 1st quarter valued at about $1,141,000. Susquehanna Fundamental Investments LLC grew its stake in Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing an additional 74,888 shares during the period. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in Hesai Group during the fourth quarter worth approximately $774,000. Finally, Nomura Holdings Inc. bought a new stake in Hesai Group in the fourth quarter worth approximately $590,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.