Hesai Group (NASDAQ:HSAI) Shares Gap Down to $4.69

Hesai Group (NASDAQ:HSAI)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.69, but opened at $4.53. Hesai Group shares last traded at $4.59, with a volume of 84,766 shares trading hands.

Hesai Group Stock Performance

The firm has a market capitalization of $567.82 million, a PE ratio of -9.20 and a beta of 1.43. The business has a 50-day simple moving average of $4.10 and a 200-day simple moving average of $4.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68.

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

Institutional Trading of Hesai Group

Institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC grew its position in Hesai Group by 107.7% during the 2nd 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 last quarter. Renaissance Technologies LLC grew its stake in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the period. EntryPoint Capital LLC increased its holdings in 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 buying an additional 4,912 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Hesai Group in the 1st quarter valued at about $1,141,000. Finally, Polunin Capital Partners Ltd purchased a new stake in Hesai Group in the 1st quarter worth $5,323,000. 48.53% of the stock is currently owned by institutional investors.

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.