Hesai Group (NASDAQ:HSAI - Get Free Report) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,190,000 shares, a decrease of 54.6% from the November 30th total of 2,620,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 0.5 days.
Hesai Group Price Performance
Shares of HSAI stock traded down $0.95 on Friday, reaching $13.52. The company's stock had a trading volume of 3,721,484 shares, compared to its average volume of 1,058,966. The company has a market capitalization of $1.72 billion, a P/E ratio of -30.73 and a beta of 2.58. Hesai Group has a 12-month low of $3.28 and a 12-month high of $14.78. The stock's 50 day simple moving average is $7.47 and its 200-day simple moving average is $5.44. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.
Institutional Trading of Hesai Group
Several institutional investors and hedge funds have recently modified their holdings of the business. Main Management ETF Advisors LLC purchased a new position in shares of Hesai Group during the third quarter worth about $924,000. Jane Street Group LLC lifted its position in Hesai Group by 11.9% during the third 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. grew its stake in 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 buying an additional 9,500 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Hesai Group by 107.7% in 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 raised its position 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 in the last quarter. Hedge funds and other institutional investors own 48.53% of the company's stock.
About Hesai Group
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Hesai Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hesai Group wasn't on the list.
While Hesai Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
