Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,610,000 shares, a decrease of 15.8% from the October 31st total of 3,100,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after acquiring an additional 15,200 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 9,500 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake 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 purchasing an additional 74,888 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Hesai Group in the 3rd quarter valued at about $924,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

NASDAQ:HSAI traded down $0.54 during mid-day trading on Monday, reaching $7.64. 4,875,353 shares of the company were exchanged, compared to its average volume of 852,425. Hesai Group has a 12 month low of $3.28 and a 12 month high of $10.01. The company has a fifty day moving average of $4.93 and a 200 day moving average of $4.55. The company has a quick ratio of 2.68, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a market cap of $970.51 million, a PE ratio of -17.36 and a beta of 1.36.

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.