Hesai Group (NASDAQ:HSAI) Shares Gap Down to $4.59

Shares of Hesai Group (NASDAQ:HSAI) gapped down prior to trading on Thursday . The stock had previously closed at $4.59, but opened at $4.44. Hesai Group shares last traded at $4.50, with a volume of 1,167,232 shares traded.

Hesai Group Stock Performance

The stock’s 50 day simple moving average is $4.71 and its two-hundred day simple moving average is $5.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.33 and a quick ratio of 2.84.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Monday, May 20th. The company reported ($0.08) EPS for the quarter. Hesai Group had a negative return on equity of 9.83% and a negative net margin of 25.68%. The company had revenue of $49.74 million during the quarter. As a group, research analysts anticipate that Hesai Group will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSAI. Psagot Value Holdings Ltd. Israel purchased a new position in shares of Hesai Group in the fourth quarter worth about $25,000. EntryPoint Capital LLC boosted its holdings in Hesai Group by 34.2% in the 1st quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock worth $97,000 after buying an additional 4,912 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Hesai Group in the 4th quarter valued at approximately $178,000. Susquehanna Fundamental Investments LLC bought a new stake in Hesai Group during the 1st quarter valued at $352,000. Finally, Nomura Holdings Inc. bought a new stake in Hesai Group during the 4th quarter valued at $590,000. 48.53% of the stock is currently owned by institutional investors.

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.