Voloridge Investment Management LLC Acquires Shares of 687,098 Hesai Group (NASDAQ:HSAI)

Voloridge Investment Management LLC acquired a new stake in Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 687,098 shares of the company's stock, valued at approximately $9,496,000. Voloridge Investment Management LLC owned 0.54% of Hesai Group as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in HSAI. Renaissance Technologies LLC acquired a new position in shares of Hesai Group during the 4th quarter worth $138,000. Hsbc Holdings PLC acquired a new position in shares of Hesai Group during the 4th quarter worth $159,000. Landscape Capital Management L.L.C. acquired a new position in shares of Hesai Group during the 4th quarter worth $168,000. Fox Run Management L.L.C. bought a new stake in shares of Hesai Group during the 4th quarter worth $177,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Hesai Group by 49.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock worth $608,000 after buying an additional 14,500 shares during the period. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Price Performance

Shares of Hesai Group stock traded down $1.32 during mid-day trading on Friday, reaching $18.84. 2,171,268 shares of the stock were exchanged, compared to its average volume of 2,748,082. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -42.95, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $16.35 and a 200 day simple moving average of $14.80. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. The business had revenue of $72.39 million during the quarter, compared to analysts' expectations of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. On average, sell-side analysts predict that Hesai Group will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

HSAI has been the subject of several recent analyst reports. Daiwa Capital Markets began coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a "buy" rating and a $35.00 price objective for the company. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.

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.