Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Still a Buy?

Shares of Hesai Group (NASDAQ:HSAI) saw strong trading volume on Monday . 1,899,695 shares were traded during trading, an increase of 128% from the previous session’s volume of 833,447 shares.The stock last traded at $7.52 and had previously closed at $8.18.

Hesai Group Stock Down 9.2 %

The company has a market cap of $943.83 million, a P/E ratio of -17.09 and a beta of 1.36. The stock’s 50-day moving average price is $4.86 and its 200-day moving average price is $4.54. The company has a current ratio of 3.08, a quick ratio of 2.68 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in HSAI. China Universal Asset Management Co. Ltd. increased its stake in Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 buying an additional 15,200 shares in the last quarter. Jane Street Group LLC boosted its holdings in Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after purchasing an additional 74,888 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Hesai Group in the 3rd quarter valued at $924,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.