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

Shares of Hesai Group (NASDAQ:HSAI) traded down 8.2% during trading on Tuesday . The stock traded as low as $4.10 and last traded at $4.14. 188,922 shares were traded during 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 Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.68 and a current ratio of 3.16. The business’s fifty day moving average price is $4.47 and its two-hundred day moving average price is $4.51. The stock has a market capitalization of $547.50 million, a P/E ratio of -8.45 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.05) earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Hesai Group will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC boosted its holdings in 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 acquiring an additional 4,912 shares during the period. China Universal Asset Management Co. Ltd. raised its stake 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 acquiring an additional 9,500 shares in the last quarter. Renaissance Technologies LLC lifted 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 during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Hesai Group in the first quarter worth about $352,000. Institutional investors own 48.53% of the company’s stock.

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.