State Street Corp Decreases Holdings in Hesai Group (NASDAQ:HSAI)

State Street Corp lowered its stake in shares of Hesai Group (NASDAQ:HSAI) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,476 shares of the company’s stock after selling 43,567 shares during the period. State Street Corp owned about 0.11% of Hesai Group worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HSAI. China Universal Asset Management Co. Ltd. increased its stake 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 worth $138,000 after buying an additional 9,500 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 acquiring an additional 15,200 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing an additional 74,888 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Down 3.5 %

Shares of HSAI stock opened at $15.57 on Friday. Hesai Group has a fifty-two week low of $3.28 and a fifty-two week high of $16.35. The firm has a market capitalization of $1.98 billion, a P/E ratio of -35.39 and a beta of 2.58. The stock’s fifty day moving average is $8.49 and its two-hundred day moving average is $5.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

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.