Hesai Group (NASDAQ:HSAI) Sees Significant Growth in Short Interest

Hesai Group (NASDAQ:HSAI) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 3,100,000 shares, a growth of 11.9% from the October 15th total of 2,770,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 569,600 shares, the short-interest ratio is currently 5.4 days.

Hesai Group Price Performance

Shares of HSAI stock traded up $0.15 during trading hours on Monday, hitting $4.23. The stock had a trading volume of 221,021 shares, compared to its average volume of 630,470. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68. The stock has a market capitalization of $537.33 million, a price-to-earnings ratio of -8.00 and a beta of 1.36. Hesai Group has a one year low of $3.28 and a one year high of $11.20. The stock’s 50-day moving average price is $4.50 and its two-hundred day moving average price is $4.50.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $63.14 million during the quarter. Hesai Group had a negative return on equity of 9.22% and a negative net margin of 25.30%. Equities analysts forecast that Hesai Group will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC lifted its position in Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after purchasing an additional 4,912 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Hesai Group by 47.5% during 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 in the last quarter. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 15,200 shares during the last quarter. Jane Street Group LLC grew its position in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its stake in Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.