Hesai Group (NASDAQ:HSAI) Shares Gap Down to $5.26

Hesai Group (NASDAQ:HSAI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.26, but opened at $4.54. Hesai Group shares last traded at $4.58, with a volume of 935,763 shares changing hands.

Hesai Group Stock Performance

The business has a fifty day moving average of $4.82 and a 200 day moving average of $6.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 2.92.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.11) EPS for the quarter. Hesai Group had a negative return on equity of 9.73% and a negative net margin of 25.68%. The firm had revenue of $79.04 million for the quarter. As a group, analysts anticipate that Hesai Group will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Psagot Value Holdings Ltd. Israel acquired a new position in Hesai Group during the fourth quarter worth $25,000. EntryPoint Capital LLC lifted its stake in Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock worth $97,000 after purchasing an additional 4,912 shares in the last quarter. Prudential PLC raised its stake in shares of Hesai Group by 1.9% in the third quarter. Prudential PLC now owns 590,677 shares of the company’s stock valued at $5,907,000 after acquiring an additional 11,119 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Hesai Group in the fourth quarter valued at $178,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Hesai Group by 3.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,104,843 shares of the company’s stock valued at $9,844,000 after buying an additional 38,234 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.