Hesai Group (NASDAQ:HSAI) Shares Gap Up to $4.11

Shares of Hesai Group (NASDAQ:HSAI) gapped up before the market opened on Wednesday . The stock had previously closed at $4.11, but opened at $4.21. Hesai Group shares last traded at $4.23, with a volume of 127,568 shares.

Hesai Group Price Performance

The company has a current ratio of 3.29, a quick ratio of 2.92 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $4.59 and a 200-day moving average of $7.32.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.11) earnings per share (EPS) for the quarter. Hesai Group had a negative return on equity of 10.93% and a negative net margin of 25.38%. The business had revenue of $79.04 million for the quarter. Research analysts expect that Hesai Group will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Hesai Group during the 4th quarter valued at $590,000. Goldman Sachs Group Inc. bought a new stake in Hesai Group during the 4th quarter valued at $535,000. FIL Ltd raised its position in Hesai Group by 41.0% during the 4th quarter. FIL Ltd now owns 4,021,751 shares of the company’s stock valued at $35,834,000 after purchasing an additional 1,169,162 shares in the last quarter. Barclays PLC raised its position in Hesai Group by 33.8% during the 4th quarter. Barclays PLC now owns 157,140 shares of the company’s stock valued at $1,400,000 after purchasing an additional 39,700 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Hesai Group during the 4th quarter valued at $3,480,000. 48.53% of the stock is owned by institutional investors.

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.