Hesai Group (NASDAQ:HSAI) Shares Sold by State Street Corp

State Street Corp cut its stake in Hesai Group (NASDAQ:HSAI) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,476 shares of the company’s stock after selling 43,567 shares during the quarter. State Street Corp’s holdings in Hesai Group were worth $635,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Hesai Group by 47.5% in the third 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. 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 increased its holdings in shares of 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. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Down 3.5 %

HSAI stock opened at $15.57 on Friday. Hesai Group has a one year low of $3.28 and a one year high of $16.35. The firm has a market cap of $1.98 billion, a PE ratio of -35.39 and a beta of 2.58. The firm’s 50 day moving average price is $8.49 and its 200-day moving average price is $5.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

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.