Hesai Group (NASDAQ:HSAI) Shares Down 8.2% – Time to Sell?

Hesai Group (NASDAQ:HSAI)’s share price fell 8.2% during trading on Tuesday . The stock traded as low as $4.10 and last traded at $4.14. 188,922 shares were traded during trading, a decline of 70% from the average session volume of 631,492 shares. The stock had previously closed at $4.51.

Hesai Group Stock Performance

The company has a market capitalization of $534.80 million, a price-to-earnings ratio of -8.10 and a beta of 1.36. The firm’s fifty day simple moving average is $4.46 and its 200 day simple moving average is $4.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $63.14 million for the quarter. Hesai Group had a negative return on equity of 9.22% and a negative net margin of 25.30%. On average, sell-side analysts forecast that Hesai Group will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Several institutional investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC grew its stake in shares of 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 period. Renaissance Technologies LLC raised its holdings in shares of Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings 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 acquiring an additional 9,500 shares in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of Hesai Group by 34.2% during the 1st quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after buying an additional 4,912 shares in the last quarter. 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.