Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group (NASDAQ:HSAI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.75, but opened at $5.47. Hesai Group shares last traded at $5.24, with a volume of 1,888,709 shares trading hands.

Hesai Group Stock Up 10.3 %

The firm has a market capitalization of $665.64 million, a price-to-earnings ratio of -10.27 and a beta of 1.36. The business has a 50 day moving average of $4.58 and a 200 day moving average of $4.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68.

Institutional Trading of Hesai Group

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position in Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after purchasing an additional 9,500 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after buying an additional 15,200 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after buying an additional 74,888 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the 3rd quarter worth approximately $924,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.