Hesai Group (NASDAQ:HSAI) Shares Up 9.3% – Here’s What Happened

Hesai Group (NASDAQ:HSAI)’s share price was up 9.3% during mid-day trading on Wednesday . The company traded as high as $7.50 and last traded at $7.50. Approximately 527,207 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 786,262 shares. The stock had previously closed at $6.86.

Hesai Group Price Performance

The company has a current ratio of 3.16, a quick ratio of 2.68 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $4.77 and a 200 day simple moving average of $4.53. The stock has a market cap of $933.67 million, a P/E ratio of -16.70 and a beta of 1.36.

Institutional Trading of Hesai Group

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in 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 in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Hesai Group by 107.7% in the 2nd 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 in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Hesai Group by 47.5% in the third 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 during the last quarter. Jane Street Group LLC raised its holdings in 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 acquiring an additional 5,186 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Hesai Group during the third quarter valued at approximately $924,000. Institutional investors own 48.53% of the company’s stock.

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.