Hesai Group (NASDAQ:HSAI) Shares Down 8.2% – Here’s What Happened

Hesai Group (NASDAQ:HSAI)’s share price traded down 8.2% during trading on Tuesday . The company traded as low as $4.10 and last traded at $4.14. 188,922 shares were traded during mid-day trading, a decline of 70% from the average session volume of 631,492 shares. The stock had previously closed at $4.51.

Hesai Group Stock Up 2.4 %

The company has a 50-day moving average of $4.47 and a two-hundred day 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. The company has a market capitalization of $547.50 million, a PE ratio of -8.45 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.05) earnings per share for the quarter. The company 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%. Sell-side analysts anticipate that Hesai Group will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC lifted its stake in shares of Hesai Group by 34.2% during the 1st 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. China Universal Asset Management Co. Ltd. raised its position in shares of Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares during the last quarter. Renaissance Technologies LLC lifted 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 worth $208,000 after purchasing an additional 15,200 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Hesai Group in the first quarter worth about $352,000. 48.53% of the stock is 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.