Hesai Group (NASDAQ:HSAI) Trading Down 6.5% – What’s Next?

Hesai Group (NASDAQ:HSAI)’s stock price fell 6.5% during trading on Tuesday . The stock traded as low as $4.45 and last traded at $4.46. 335,431 shares were traded during trading, a decline of 49% from the average session volume of 652,998 shares. The stock had previously closed at $4.77.

Hesai Group Trading Down 8.0 %

The company has a quick ratio of 2.68, a current ratio of 3.16 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $557.65 million, a P/E ratio of -8.61 and a beta of 1.42. The firm’s 50-day moving average price is $4.25 and its 200 day moving average price is $4.53.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data 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 for the quarter. As a group, equities research analysts predict that Hesai Group will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently bought and sold shares of HSAI. EntryPoint Capital LLC raised its holdings in shares of 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 purchasing an additional 4,912 shares during the last quarter. Renaissance Technologies LLC increased 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 valued at $208,000 after buying an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Hesai Group in the 1st quarter valued at about $352,000. Nomura Holdings Inc. bought a new position in shares of Hesai Group during the 4th quarter worth approximately $590,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Hesai Group in the 1st quarter worth approximately $1,141,000. 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.