Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,610,000 shares, a drop of 15.8% from the October 31st total of 3,100,000 shares. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is currently 2.4 days. Currently, 3.2% of the company’s shares are sold short.

Hesai Group Stock Down 6.6 %

HSAI stock traded down $0.54 during mid-day trading on Monday, hitting $7.64. 4,875,353 shares of the company were exchanged, compared to its average volume of 852,425. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.68 and a current ratio of 3.08. The firm has a market cap of $970.51 million, a P/E ratio of -17.36 and a beta of 1.36. The firm’s 50 day simple moving average is $4.93 and its 200 day simple moving average is $4.55. Hesai Group has a 1-year low of $3.28 and a 1-year high of $10.01.

Institutional Trading of Hesai Group

Several hedge funds have recently bought and sold shares of HSAI. Main Management ETF Advisors LLC acquired a new stake in Hesai Group during the 3rd quarter worth approximately $924,000. Susquehanna Fundamental Investments LLC raised 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 during the last quarter. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 15,200 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings 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 purchasing an additional 9,500 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings 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 purchasing an additional 5,186 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.