Hesai Group (NASDAQ:HSAI) Sees Unusually-High Trading Volume

Shares of Hesai Group (NASDAQ:HSAI) saw unusually-high trading volume on Thursday . Approximately 579,334 shares traded hands during mid-day trading, a decline of 35% from the previous session’s volume of 885,843 shares.The stock last traded at $5.35 and had previously closed at $4.68.

Hesai Group Trading Up 9.2 %

The company has a quick ratio of 2.92, a current ratio of 3.29 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $641.51 million and a P/E ratio of -9.89. The firm has a 50 day moving average of $4.87 and a 200-day moving average of $7.91.

Institutional Investors Weigh In On Hesai Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. acquired a new stake in Hesai Group during the 3rd quarter worth about $2,114,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hesai Group during the 3rd quarter worth about $10,666,000. Schroder Investment Management Group grew its holdings in Hesai Group by 11.0% during the 3rd quarter. Schroder Investment Management Group now owns 584,517 shares of the company’s stock worth $5,845,000 after acquiring an additional 57,954 shares during the period. Prudential PLC grew its holdings in Hesai Group by 1.9% during the 3rd quarter. Prudential PLC now owns 590,677 shares of the company’s stock worth $5,907,000 after acquiring an additional 11,119 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Hesai Group during the 4th quarter worth about $1,523,000. 48.53% of the stock is currently 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.