Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Here’s Why

Hesai Group (NASDAQ:HSAI) shares saw strong trading volume on Tuesday . 1,023,359 shares were traded during trading, an increase of 7% from the previous session’s volume of 954,335 shares.The stock last traded at $11.51 and had previously closed at $10.20.

Hesai Group Price Performance

The stock has a market cap of $1.77 billion, a P/E ratio of -26.16 and a beta of 2.58. The business has a 50-day simple moving average of $6.03 and a 200 day simple moving average of $4.95. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Institutional Trading of Hesai Group

A number of institutional investors have recently bought and sold shares of the company. Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group during the 3rd quarter valued at about $924,000. Susquehanna Fundamental Investments LLC boosted its holdings 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 buying an additional 74,888 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of 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 buying an additional 15,200 shares during the period. Jane Street Group LLC increased its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 9,500 shares during the period. 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.