Hesai Group (NASDAQ:HSAI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Hesai Group (NASDAQ:HSAI) saw strong trading volume on Monday . 2,209,162 shares traded hands during trading, an increase of 141% from the previous session’s volume of 917,704 shares.The stock last traded at $11.23 and had previously closed at $10.43.

Hesai Group Stock Up 8.3 %

The stock has a fifty day moving average of $5.44 and a 200 day moving average of $4.72. The firm has a market capitalization of $1.48 billion, a P/E ratio of -26.48 and a beta of 2.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Institutional Trading of Hesai Group

A number of hedge funds have recently bought and sold shares of the business. Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group in the third quarter valued at $924,000. Jane Street Group LLC raised its stake in shares of Hesai Group by 11.9% in 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 period. China Universal Asset Management Co. Ltd. raised 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. Susquehanna Fundamental Investments LLC raised its stake in shares of Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after buying an additional 74,888 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Hesai Group by 44.1% in 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 period. 48.53% of the stock is currently owned by 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.