Hesai Group (NASDAQ:HSAI) Shares Down 9.1% – Should You Sell?

Shares of Hesai Group (NASDAQ:HSAI) dropped 9.1% on Wednesday . The company traded as low as $4.20 and last traded at $4.22. Approximately 675,392 shares traded hands during trading, an increase of 7% from the average daily volume of 633,779 shares. The stock had previously closed at $4.64.

Hesai Group Stock Performance

The company’s fifty day moving average is $4.43 and its two-hundred day moving average is $4.50. The company has a quick ratio of 2.68, a current ratio of 3.16 and a debt-to-equity ratio of 0.09.

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

Institutional Trading of Hesai Group

A number of institutional investors have recently bought and sold shares of HSAI. 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 worth $138,000 after acquiring an additional 9,500 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in 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 purchasing an additional 74,888 shares during the last quarter. Renaissance Technologies LLC increased its stake in 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 purchasing an additional 15,200 shares during the last quarter. EntryPoint Capital LLC raised 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 worth $97,000 after purchasing an additional 4,912 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Hesai Group during the 1st quarter worth approximately $1,141,000. 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.