Hesai Group (NASDAQ:HSAI) Shares Gap Up – Here’s What Happened

Shares of Hesai Group (NASDAQ:HSAI) gapped up before the market opened on Monday . The stock had previously closed at $5.37, but opened at $5.60. Hesai Group shares last traded at $5.51, with a volume of 549,512 shares changing hands.

Hesai Group Stock Down 6.2 %

The business’s fifty day simple moving average is $4.16 and its two-hundred day simple moving average is $4.52. The company has a market cap of $652.92 million, a PE ratio of -10.08 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68.

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

Hedge Funds Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently made changes to their positions in HSAI. GSA Capital Partners LLP acquired a new position in Hesai Group in the 1st quarter valued at $1,141,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Hesai Group in the first quarter valued at about $352,000. Nomura Holdings Inc. purchased a new position in shares of Hesai Group in the fourth quarter worth about $590,000. EntryPoint Capital LLC boosted its position in 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 acquiring an additional 4,912 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 15,200 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.