Hesai Group (NASDAQ:HSAI) Stock Price Down 3.5%

Shares of Hesai Group (NASDAQ:HSAI) dropped 3.5% during trading on Wednesday . The stock traded as low as $4.34 and last traded at $4.47. Approximately 259,319 shares changed hands during trading, a decline of 71% from the average daily volume of 884,691 shares. The stock had previously closed at $4.63.

Hesai Group Trading Up 1.9 %

The stock’s fifty day moving average price is $4.92 and its 200-day moving average price is $7.96. The company has a current ratio of 3.29, a quick ratio of 2.92 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Hesai Group

Large investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hesai Group during the third quarter valued at approximately $2,114,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Hesai Group during the 3rd quarter worth $10,666,000. Schroder Investment Management Group increased its stake in shares of Hesai Group by 11.0% during the 3rd quarter. Schroder Investment Management Group now owns 584,517 shares of the company’s stock worth $5,845,000 after purchasing an additional 57,954 shares during the last quarter. Prudential PLC increased its stake in shares of Hesai Group by 1.9% during the 3rd quarter. Prudential PLC now owns 590,677 shares of the company’s stock worth $5,907,000 after purchasing an additional 11,119 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Hesai Group during the 4th quarter worth $1,523,000. Institutional investors and hedge funds 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.