Hesai Group (NASDAQ:HSAI) Sees Large Volume Increase

Hesai Group (NASDAQ:HSAI) shares saw unusually-high trading volume on Thursday . Approximately 579,334 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 885,843 shares.The stock last traded at $5.35 and had previously closed at $4.68.

Hesai Group Trading Up 9.2 %

The company’s fifty day moving average is $4.87 and its two-hundred day moving average is $7.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.92 and a current ratio of 3.29. The company has a market cap of $641.51 million and a price-to-earnings ratio of -9.89.

Hedge Funds Weigh In On Hesai Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. purchased a new stake in Hesai Group in the 3rd quarter worth approximately $2,114,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hesai Group in the 3rd quarter worth approximately $10,666,000. Schroder Investment Management Group lifted its position 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 valued at $5,845,000 after buying an additional 57,954 shares in the last quarter. Prudential PLC lifted its position in shares of Hesai Group by 1.9% during the 3rd quarter. Prudential PLC now owns 590,677 shares of the company’s stock valued at $5,907,000 after buying an additional 11,119 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Hesai Group during the 4th quarter valued at approximately $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.