Hesai Group (NASDAQ:HSAI) Stock Price Down 3.5% – Time to Sell?

Hesai Group (NASDAQ:HSAI)’s stock price fell 3.5% during trading on Wednesday . The company traded as low as $4.78 and last traded at $4.96. 159,804 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 653,064 shares. The stock had previously closed at $5.14.

Hesai Group Stock Performance

The business’s fifty day moving average price is $4.18 and its two-hundred day moving average price is $4.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.68 and a current ratio of 3.16. The stock has a market capitalization of $658.01 million, a P/E ratio of -10.08 and a beta of 1.42.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data 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 company had revenue of $63.14 million for the quarter. As a group, sell-side analysts forecast that Hesai Group will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of Hesai Group in the 1st quarter worth about $1,141,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Hesai Group during the first quarter valued at approximately $352,000. Nomura Holdings Inc. bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $590,000. EntryPoint Capital LLC raised its holdings 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 worth $97,000 after buying an additional 4,912 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of 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 period. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.