Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Still a Buy?

Hesai Group (NASDAQ:HSAI) shares saw unusually-high trading volume on Monday . Approximately 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 Price Performance

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 firm has a 50 day moving average of $4.64 and a 200-day moving average of $4.49.

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. Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group during the third quarter worth $924,000. Susquehanna Fundamental Investments LLC raised its stake 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 worth $605,000 after purchasing an additional 74,888 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 valued at $208,000 after buying an additional 15,200 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after buying an additional 5,186 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.