Hesai Group (NASDAQ:HSAI) Stock Price Down 4.8%

Hesai Group (NASDAQ:HSAI) dropped 4.8% during mid-day trading on Wednesday . The company traded as low as $3.93 and last traded at $3.94. Approximately 294,153 shares were traded during trading, a decline of 56% from the average daily volume of 667,371 shares. The stock had previously closed at $4.14.

Hesai Group Stock Down 7.5 %

The stock’s fifty day simple moving average is $4.43 and its two-hundred day simple moving average is $4.59. The company has a market capitalization of $486.52 million, a price-to-earnings ratio of -8.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.84 and a current ratio of 3.33.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.08) EPS for the quarter. The company had revenue of $49.74 million for the quarter. Hesai Group had a negative net margin of 25.68% and a negative return on equity of 9.83%. On average, sell-side analysts anticipate that Hesai Group will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Psagot Value Holdings Ltd. Israel purchased a new position in shares of Hesai Group during the 4th quarter valued at $25,000. EntryPoint Capital LLC boosted its position in Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after purchasing an additional 4,912 shares during the last quarter. Renaissance Technologies LLC grew its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Hesai Group in the 1st quarter worth about $352,000. Finally, Nomura Holdings Inc. acquired a new position in Hesai Group in the 4th quarter worth about $590,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.