Hesai Group (NASDAQ:HSAI) Shares Gap Down to $4.53

Hesai Group (NASDAQ:HSAI) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.53, but opened at $4.26. Hesai Group shares last traded at $4.21, with a volume of 221,784 shares changing hands.

Hesai Group Stock Performance

The company has a market cap of $530.98 million, a P/E ratio of -8.16 and a beta of 1.43. The company’s 50-day moving average is $4.38 and its two-hundred day moving average is $4.55. The company has a quick ratio of 2.84, a current ratio of 3.33 and a debt-to-equity ratio of 0.09.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Monday, May 20th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $49.74 million for the quarter. Hesai Group had a negative net margin of 25.68% and a negative return on equity of 9.83%. Equities analysts predict that Hesai Group will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Institutional investors have recently added to or reduced their stakes in the stock. Psagot Value Holdings Ltd. Israel purchased a new stake in Hesai Group during the fourth quarter valued at about $25,000. EntryPoint Capital LLC lifted its holdings 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. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Hesai Group during the first quarter valued at about $352,000. Finally, Nomura Holdings Inc. purchased a new stake in Hesai Group during the fourth quarter valued at about $590,000. Institutional investors own 48.53% of the company’s stock.

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.