Shares of Hesai Group (NASDAQ:HSAI - Get Free Report) fell 4.6% on Monday . The stock traded as low as $10.70 and last traded at $10.71. 404,443 shares changed hands during trading, a decline of 57% from the average session volume of 948,589 shares. The stock had previously closed at $11.23.
Hesai Group Price Performance
The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -23.25 and a beta of 2.58. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $5.93 and a 200-day moving average of $4.91.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of HSAI. Main Management ETF Advisors LLC acquired a new position in Hesai Group in the third quarter valued at $924,000. Jane Street Group LLC lifted its holdings 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 purchasing an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position 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 purchasing an additional 9,500 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in 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 buying an additional 74,888 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock worth $208,000 after buying an additional 15,200 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.
About Hesai Group
(
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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.
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