Hesai Group (NASDAQ:HSAI) Sees Large Growth in Short Interest

Hesai Group (NASDAQ:HSAI) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,100,000 shares, an increase of 11.9% from the October 15th total of 2,770,000 shares. Based on an average daily volume of 569,600 shares, the days-to-cover ratio is presently 5.4 days. Approximately 3.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC increased its stake in shares of Hesai Group by 34.2% in the first 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 during the period. Jane Street Group LLC increased its position in Hesai Group by 11.9% during the 3rd 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 period. China Universal Asset Management Co. Ltd. increased its position in Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC increased 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 valued at $208,000 after purchasing an additional 15,200 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased 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 valued at $605,000 after purchasing an additional 74,888 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Performance

Hesai Group stock traded up $0.15 during mid-day trading on Monday, hitting $4.23. 221,021 shares of the company’s stock traded hands, compared to its average volume of 630,470. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.16 and a quick ratio of 2.68. The firm has a 50 day simple moving average of $4.51 and a two-hundred day simple moving average of $4.49. Hesai Group has a fifty-two week low of $3.28 and a fifty-two week high of $11.20. The stock has a market cap of $537.33 million, a price-to-earnings ratio of -8.29 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted 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, research analysts expect that Hesai Group will post -0.35 EPS for the current fiscal year.

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.