Hesai Group (NASDAQ:HSAI) Trading 5.9% Higher – Should You Buy?

Hesai Group (NASDAQ:HSAI)’s share price shot up 5.9% during trading on Tuesday . The company traded as high as $11.46 and last traded at $11.40. 2,499,256 shares were traded during trading, an increase of 167% from the average session volume of 936,831 shares. The stock had previously closed at $10.76.

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -26.48 and a beta of 2.54. The business has a fifty day moving average price of $5.44 and a 200 day moving average price of $4.72.

Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position 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 purchasing an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position in 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 period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares during the last quarter. Jane Street Group LLC increased its holdings in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Hesai Group during the third quarter worth $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.