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

Shares of Hesai Group (NASDAQ:HSAI) saw unusually-strong trading volume on Monday . Approximately 344,733 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 624,966 shares.The stock last traded at $4.72 and had previously closed at $4.74.

Hesai Group Price Performance

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’s fifty day simple moving average is $4.64 and its two-hundred day simple moving average is $4.49.

Institutional Trading of Hesai Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in HSAI. Renaissance Technologies LLC grew its position in Hesai Group by 44.1% in the second 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 last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings 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 during the last quarter. Jane Street Group LLC raised its position in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group during the third quarter valued at $924,000. 48.53% of the stock is owned by institutional investors and hedge funds.

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.