Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Here’s Why

Hesai Group (NASDAQ:HSAI) saw strong trading volume on Monday . 344,733 shares traded hands during trading, a decline of 45% from the previous session’s volume of 624,966 shares.The stock last traded at $4.72 and had previously closed at $4.74.

Hesai Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68. The stock’s 50-day simple moving average is $4.57 and its 200-day simple moving average is $4.48.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently made changes to their positions in HSAI. Main Management ETF Advisors LLC bought a new position in Hesai Group during the third quarter valued at about $924,000. Susquehanna Fundamental Investments LLC grew its position in shares of Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after acquiring an additional 74,888 shares during the period. Renaissance Technologies LLC increased its stake in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after purchasing an additional 9,500 shares during the period. Finally, Jane Street Group LLC increased its position in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. 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.