Hesai Group (NASDAQ:HSAI) Shares Down 3.5%

Hesai Group (NASDAQ:HSAI)’s stock price traded down 3.5% on Wednesday . The stock traded as low as $4.34 and last traded at $4.47. 259,319 shares were traded during mid-day trading, a decline of 71% from the average session volume of 884,691 shares. The stock had previously closed at $4.63.

Hesai Group Trading Up 8.1 %

The stock has a fifty day simple moving average of $4.82 and a 200-day simple moving average of $7.89. The company has a current ratio of 3.29, a quick ratio of 2.92 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FIL Ltd raised its stake in Hesai Group by 41.0% during the 4th quarter. FIL Ltd now owns 4,021,751 shares of the company’s stock worth $35,834,000 after buying an additional 1,169,162 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Hesai Group by 3.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,104,843 shares of the company’s stock valued at $9,844,000 after purchasing an additional 38,234 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Hesai Group during the 1st quarter worth approximately $15,749,000. The Manufacturers Life Insurance Company raised its holdings in Hesai Group by 296.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 838,353 shares of the company’s stock worth $7,470,000 after buying an additional 626,914 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Hesai Group in the fourth quarter valued at approximately $6,412,000. 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.