Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.58

Hesai Group (NASDAQ:HSAIGet Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.58, but opened at $4.70. Hesai Group shares last traded at $4.92, with a volume of 206,053 shares trading hands.

Hesai Group Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 3.33 and a quick ratio of 2.84. The stock has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $5.20.

Hesai Group (NASDAQ:HSAIGet Free Report) last posted its earnings results on Monday, May 20th. The company reported ($0.08) earnings per share (EPS) for the quarter. Hesai Group had a negative return on equity of 9.83% and a negative net margin of 25.68%. The company had revenue of $49.74 million for the quarter. On average, analysts expect that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Hesai Group during the fourth quarter worth about $25,000. EntryPoint Capital LLC increased its position in shares of Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock worth $97,000 after acquiring an additional 4,912 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Hesai Group during the fourth quarter worth $178,000. Susquehanna Fundamental Investments LLC bought a new stake in Hesai Group in the 1st quarter valued at $352,000. Finally, Nomura Holdings Inc. acquired a new position in Hesai Group in the 4th quarter worth $590,000. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

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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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