Hesai Group (NASDAQ:HSAI) Shares Gap Up – Still a Buy?

Hesai Group (NASDAQ:HSAIGet Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $4.75, but opened at $5.47. Hesai Group shares last traded at $5.24, with a volume of 1,888,709 shares changing hands.

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68. The company has a market cap of $933.67 million, a PE ratio of -16.70 and a beta of 1.36. The stock has a fifty day moving average price of $4.71 and a 200-day moving average price of $4.51.

Institutional Trading of Hesai Group

A number of hedge funds have recently made changes to their positions in the stock. Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group in the 3rd quarter valued at approximately $924,000. Susquehanna Fundamental Investments LLC lifted its position 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 worth $605,000 after buying an additional 74,888 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 worth $208,000 after acquiring an additional 15,200 shares in the last quarter. Jane Street Group LLC increased 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 valued at $230,000 after acquiring an additional 5,186 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Hesai Group by 47.5% during 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. 48.53% of the stock is owned by hedge funds and other institutional investors.

About Hesai Group

(Get Free Report)

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.

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