Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group (NASDAQ:HSAI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.75, but opened at $5.47. Hesai Group shares last traded at $5.24, with a volume of 1,888,709 shares.

Hesai Group Stock Up 10.3 %

The firm has a 50-day moving average of $4.58 and a two-hundred day moving average of $4.47. The firm has a market cap of $665.64 million, a price-to-earnings ratio of -10.27 and a beta of 1.36. The company has a current ratio of 3.16, a quick ratio of 2.68 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Main Management ETF Advisors LLC bought a new position in Hesai Group during the third quarter worth $924,000. 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 purchasing an additional 74,888 shares during the period. Renaissance Technologies LLC raised its position in shares of Hesai Group by 44.1% during the second 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 last quarter. Jane Street Group LLC raised its position in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after buying an additional 5,186 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake 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 buying an additional 9,500 shares during the period. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.