Hesai Group (NASDAQ:HSAI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Hesai Group (NASDAQ:HSAI) saw unusually-strong trading volume on Monday . Approximately 2,209,162 shares were traded during mid-day trading, an increase of 141% from the previous session’s volume of 917,704 shares.The stock last traded at $11.23 and had previously closed at $10.43.

Hesai Group Price Performance

The business’s fifty day moving average price is $5.32 and its 200 day moving average price is $4.68. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Institutional Trading of Hesai Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in shares of Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after buying an additional 15,200 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings 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 worth $138,000 after purchasing an additional 9,500 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in Hesai Group in the 3rd quarter worth about $924,000. Finally, Jane Street Group LLC raised its position in Hesai Group by 11.9% in the third 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. Institutional investors and hedge funds 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.