Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,100,000 shares, a growth of 11.9% from the October 15th total of 2,770,000 shares. Based on an average daily volume of 569,600 shares, the days-to-cover ratio is presently 5.4 days. Approximately 3.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC bought a new position in Hesai Group during the third quarter valued at approximately $924,000. Jane Street Group LLC raised its holdings in shares of Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted 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 valued at $138,000 after acquiring an additional 9,500 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings 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 purchasing an additional 74,888 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

HSAI traded up $0.15 during trading on Monday, reaching $4.23. 221,021 shares of the company traded hands, compared to its average volume of 630,470. Hesai Group has a 12-month low of $3.28 and a 12-month high of $11.20. The firm has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.68 and a current ratio of 3.16. The company has a market cap of $537.33 million, a P/E ratio of -8.29 and a beta of 1.36.

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

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.