Investors Buy High Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) saw some unusual options trading activity on Tuesday. Stock traders bought 5,438 call options on the company. This represents an increase of 1,621% compared to the typical volume of 316 call options.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in Hesai Group by 47.5% during 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 in the last quarter. Renaissance Technologies LLC boosted 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 acquiring an additional 15,200 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Hesai Group by 107.7% during the second 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. Finally, Main Management ETF Advisors LLC bought a new position in shares of Hesai Group in the third quarter worth approximately $924,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Up 7.1 %

Shares of NASDAQ:HSAI opened at $7.35 on Thursday. The firm has a fifty day moving average price of $4.71 and a two-hundred day moving average price of $4.51. The company has a market cap of $933.67 million, a price-to-earnings ratio of -16.70 and a beta of 1.36. 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 has a one year low of $3.28 and a one year high of $11.20.

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.