Hesai Group (NASDAQ:HSAI) Shares Down 3.5%

Shares of Hesai Group (NASDAQ:HSAI) dropped 3.5% during mid-day trading on Wednesday . The company traded as low as $4.34 and last traded at $4.47. Approximately 259,319 shares traded hands during trading, a decline of 71% from the average daily volume of 884,691 shares. The stock had previously closed at $4.63.

Hesai Group Stock Up 8.1 %

The business has a 50 day moving average price of $4.82 and a 200-day moving average price of $7.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.92 and a current ratio of 3.29.

Hedge Funds Weigh In On Hesai Group

Large investors have recently modified their holdings of the business. Nomura Holdings Inc. acquired a new stake in shares of Hesai Group in the 4th quarter worth approximately $590,000. Goldman Sachs Group Inc. acquired a new stake in Hesai Group during the 4th quarter valued at $535,000. FIL Ltd grew its holdings in Hesai Group by 41.0% during the 4th quarter. FIL Ltd now owns 4,021,751 shares of the company’s stock valued at $35,834,000 after buying an additional 1,169,162 shares during the last quarter. Barclays PLC grew its holdings in Hesai Group by 33.8% during the 4th quarter. Barclays PLC now owns 157,140 shares of the company’s stock valued at $1,400,000 after buying an additional 39,700 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Hesai Group during the 4th quarter valued at $3,480,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Company Profile

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.