Hesai Group (NASDAQ:HSAI) Trading Down 8.2% – Here’s Why

Shares of Hesai Group (NASDAQ:HSAI) fell 8.2% during mid-day trading on Tuesday . The stock traded as low as $4.10 and last traded at $4.14. 188,922 shares were traded during mid-day trading, a decline of 70% from the average session volume of 631,492 shares. The stock had previously closed at $4.51.

Hesai Group Price Performance

The firm has a fifty day moving average price of $4.46 and a two-hundred day moving average price of $4.51. The stock has a market capitalization of $534.80 million, a P/E ratio of -8.10 and a beta of 1.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.68 and a current ratio of 3.16.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.05) EPS for the quarter. The business had revenue of $63.14 million during the quarter. Hesai Group had a negative net margin of 25.30% and a negative return on equity of 9.22%. As a group, analysts expect that Hesai Group will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC increased its stake in shares of Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock worth $97,000 after purchasing an additional 4,912 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake 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 valued at $138,000 after buying an additional 9,500 shares during the period. Renaissance Technologies LLC grew its stake in shares of Hesai Group by 44.1% in 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 period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Hesai Group in the 1st quarter worth approximately $352,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.