Hesai Group (NASDAQ:HSAI) Trading 5.4% Higher

Hesai Group (NASDAQ:HSAI)’s share price was up 5.4% on Tuesday . The stock traded as high as $4.70 and last traded at $4.70. Approximately 164,957 shares changed hands during trading, a decline of 76% from the average daily volume of 695,510 shares. The stock had previously closed at $4.46.

Hesai Group Stock Performance

The firm has a market capitalization of $599.58 million, a P/E ratio of -9.16 and a beta of 1.49. The company has a 50-day simple moving average of $4.76 and a two-hundred day simple moving average of $5.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.84 and a current ratio of 3.33.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $49.74 million during the quarter. Hesai Group had a negative return on equity of 9.83% and a negative net margin of 25.68%. As a group, equities analysts forecast that Hesai Group will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Psagot Value Holdings Ltd. Israel purchased a new stake in Hesai Group in the fourth quarter worth about $25,000. EntryPoint Capital LLC grew its stake in shares of 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 last quarter. China Universal Asset Management Co. Ltd. bought a new position in Hesai Group during the 4th quarter valued at approximately $178,000. Susquehanna Fundamental Investments LLC purchased a new position in Hesai Group during the first quarter valued at $352,000. Finally, Nomura Holdings Inc. bought a new stake in Hesai Group in the fourth quarter worth $590,000. 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.