Hesai Group (NASDAQ:HSAI) Stock Price Down 7.8%

Hesai Group (NASDAQ:HSAI)’s stock price fell 7.8% on Tuesday . The stock traded as low as $4.25 and last traded at $4.25. 255,751 shares were traded during mid-day trading, a decline of 62% from the average session volume of 670,976 shares. The stock had previously closed at $4.61.

Hesai Group Trading Down 5.6 %

The business’s fifty day moving average is $4.60 and its 200-day moving average is $4.83. The company has a quick ratio of 2.84, a current ratio of 3.33 and a debt-to-equity ratio of 0.09.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.08) earnings per share (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, equities research analysts predict that Hesai Group will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel purchased a new position in Hesai Group in the 4th quarter worth about $25,000. 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 worth $97,000 after buying an additional 4,912 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Hesai Group in the 4th quarter worth $178,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Hesai Group during the first quarter worth about $352,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Hesai Group in the 4th quarter valued at $590,000. 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.