Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.40

Hesai Group (NASDAQ:HSAI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.40, but opened at $4.55. Hesai Group shares last traded at $4.62, with a volume of 172,970 shares trading hands.

Hesai Group Stock Performance

The company’s 50 day simple moving average is $4.64 and its 200 day simple moving average is $6.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.29. The stock has a market cap of $585.02 million, a PE ratio of -8.79 and a beta of 1.72.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.11) EPS for the quarter. The business 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%. Analysts expect that Hesai Group will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently made changes to their positions in the business. Polunin Capital Partners Ltd purchased a new stake in Hesai Group during the first quarter worth about $5,323,000. Nomura Holdings Inc. bought a new position in shares of Hesai Group during the 4th quarter valued at approximately $590,000. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Hesai Group during the 4th quarter valued at approximately $774,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Hesai Group during the 4th quarter worth approximately $1,431,000. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of Hesai Group in the 4th quarter worth approximately $25,000. 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.