Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.11

Shares of Hesai Group (NASDAQ:HSAI) gapped up prior to trading on Wednesday . The stock had previously closed at $4.11, but opened at $4.21. Hesai Group shares last traded at $4.23, with a volume of 127,568 shares.

Hesai Group Price Performance

The company has a quick ratio of 2.92, a current ratio of 3.29 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $4.57 and its 200 day simple moving average is $7.36.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.11) EPS for the quarter. Hesai Group had a negative return on equity of 10.93% and a negative net margin of 25.38%. The company had revenue of $79.04 million during the quarter. As a group, equities research analysts forecast that Hesai Group will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently made changes to their positions in HSAI. Barclays PLC purchased a new stake in shares of Hesai Group in the 1st quarter valued at $110,000. UBS Group AG bought a new position in Hesai Group in the 1st quarter worth $78,000. BlackRock Inc. bought a new position in Hesai Group in the 1st quarter worth $209,000. Price T Rowe Associates Inc. MD purchased a new stake in Hesai Group during the 1st quarter valued at about $15,749,000. Finally, Zimmer Partners LP purchased a new stake in Hesai Group during the 1st quarter valued at about $928,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.