Hesai Group (NASDAQ:HSAI) Stock Price Down 3.1%

Hesai Group (NASDAQ:HSAI) shares were down 3.1% on Friday . The company traded as low as $4.37 and last traded at $4.41. Approximately 33,152 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 699,713 shares. The stock had previously closed at $4.55.

Hesai Group Price Performance

The stock has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $5.33. The company has a market cap of $548.77 million, a PE ratio of -8.57 and a beta of 1.49. The company has a current ratio of 3.33, a quick ratio of 2.84 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 (EPS) for the quarter. Hesai Group had a negative net margin of 25.68% and a negative return on equity of 9.83%. The company had revenue of $49.74 million for the quarter. On average, equities analysts predict that Hesai Group will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently modified their holdings of HSAI. Psagot Value Holdings Ltd. Israel acquired a new position in shares of Hesai Group during the 4th quarter worth approximately $25,000. EntryPoint Capital LLC raised its position in shares of Hesai Group by 34.2% during the 1st quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock worth $97,000 after purchasing an additional 4,912 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Hesai Group during the 4th quarter worth approximately $178,000. Nomura Holdings Inc. acquired a new position in shares of Hesai Group during the 4th quarter worth approximately $590,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Hesai Group during the 1st quarter worth approximately $352,000. 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.