Hesai Group (NASDAQ:HSAI) Trading Down 4.9%

Hesai Group (NASDAQ:HSAI) dropped 4.9% during mid-day trading on Tuesday . The stock traded as low as $4.22 and last traded at $4.25. Approximately 152,478 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 848,064 shares. The stock had previously closed at $4.47.

Hesai Group Trading Down 7.2 %

The firm’s 50 day moving average price is $4.58 and its 200-day moving average price is $7.40. The stock has a market cap of $520.99 million, a P/E ratio of -7.87 and a beta of 1.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.29 and a quick ratio of 2.92.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $79.04 million for the quarter. Hesai Group had a negative net margin of 25.38% and a negative return on equity of 10.93%. As a group, equities research analysts forecast that Hesai Group will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HSAI. Nomura Holdings Inc. bought a new stake in Hesai Group during the 4th quarter worth approximately $590,000. Goldman Sachs Group Inc. bought a new stake in shares of Hesai Group during the 4th quarter valued at $535,000. FIL Ltd lifted its stake in shares of Hesai Group by 41.0% during the 4th quarter. FIL Ltd now owns 4,021,751 shares of the company’s stock valued at $35,834,000 after buying an additional 1,169,162 shares in the last quarter. Barclays PLC boosted its holdings in Hesai Group by 33.8% in the 4th quarter. Barclays PLC now owns 157,140 shares of the company’s stock worth $1,400,000 after buying an additional 39,700 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Hesai Group in the 4th quarter worth $3,480,000. 48.53% of the stock is currently owned by institutional investors.

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.