Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 2,770,000 shares, a decline of 10.1% from the September 30th total of 3,080,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 568,500 shares, the days-to-cover ratio is currently 4.9 days.

Hedge Funds Weigh In On Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. EntryPoint Capital LLC boosted its position in shares of Hesai Group by 34.2% during the first quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after purchasing an additional 4,912 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after acquiring an additional 9,500 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after acquiring an additional 15,200 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Hesai Group in the first quarter worth about $352,000. Finally, GSA Capital Partners LLP bought a new position in shares of Hesai Group during the first quarter valued at approximately $1,141,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Price Performance

HSAI stock traded down $0.05 during mid-day trading on Thursday, hitting $4.50. 308,402 shares of the stock were exchanged, compared to its average volume of 637,927. 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 stock has a market capitalization of $571.63 million, a price-to-earnings ratio of -8.92 and a beta of 1.42. The business has a fifty day moving average price of $4.39 and a 200 day moving average price of $4.49. Hesai Group has a 12 month low of $3.28 and a 12 month high of $11.55.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative return on equity of 9.22% and a negative net margin of 25.30%. The business had revenue of $63.14 million during the quarter. On average, sell-side analysts anticipate that Hesai Group will post -0.35 EPS for the current year.

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.