Hesai Group (NASDAQ:HSAI) Shares Up 6.4% – Time to Buy?

Hesai Group (NASDAQ:HSAI) shot up 6.4% on Tuesday . The stock traded as high as $8.26 and last traded at $8.13. 1,861,640 shares traded hands during mid-day trading, an increase of 117% from the average session volume of 856,436 shares. The stock had previously closed at $7.64.

Hesai Group Stock Up 4.7 %

The business’s fifty day moving average price is $4.93 and its 200 day moving average price is $4.55. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Institutional Trading of Hesai Group

A number of hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted 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 valued at $138,000 after acquiring an additional 9,500 shares in the last quarter. Renaissance Technologies LLC raised its position 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 period. Jane Street Group LLC increased its stake in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares during the period. Susquehanna Fundamental Investments LLC boosted 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 valued at $605,000 after acquiring an additional 74,888 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in shares of Hesai Group in the third quarter worth $924,000. 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.