Short Interest in Hesai Group (NASDAQ:HSAI) Decreases By 54.6%

Hesai Group (NASDAQ:HSAI) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,190,000 shares, a decrease of 54.6% from the November 30th total of 2,620,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 0.5 days.

Hesai Group Price Performance

Shares of HSAI stock traded down $0.95 on Friday, reaching $13.52. The company’s stock had a trading volume of 3,721,484 shares, compared to its average volume of 1,058,966. The company has a market capitalization of $1.72 billion, a P/E ratio of -30.73 and a beta of 2.58. Hesai Group has a 12-month low of $3.28 and a 12-month high of $14.78. The stock’s 50 day simple moving average is $7.47 and its 200-day simple moving average is $5.44. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Institutional Trading of Hesai Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Main Management ETF Advisors LLC purchased a new position in shares of Hesai Group during the third quarter worth about $924,000. Jane Street Group LLC lifted its position in Hesai Group by 11.9% during 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. China Universal Asset Management Co. Ltd. grew its stake in Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after buying an additional 74,888 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after buying an additional 15,200 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.