Polunin Capital Partners Ltd Cuts Holdings in Hesai Group (NASDAQ:HSAI)

Polunin Capital Partners Ltd lowered its holdings in Hesai Group (NASDAQ:HSAI) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,027,400 shares of the company’s stock after selling 24,500 shares during the quarter. Hesai Group accounts for about 1.1% of Polunin Capital Partners Ltd’s investment portfolio, making the stock its 15th biggest holding. Polunin Capital Partners Ltd owned 0.81% of Hesai Group worth $4,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EntryPoint Capital LLC raised its stake in Hesai Group by 34.2% during the 1st quarter. EntryPoint Capital LLC now owns 19,254 shares of the company’s stock valued at $97,000 after buying an additional 4,912 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Hesai Group in the first quarter worth approximately $352,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Hesai Group during the 1st quarter worth $1,141,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI traded up $0.17 during midday trading on Friday, hitting $4.70. The company had a trading volume of 382,661 shares, compared to its average volume of 822,405. The company has a market cap of $597.04 million, a price-to-earnings ratio of -9.22 and a beta of 1.42. 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 company has a fifty day moving average of $4.37 and a two-hundred day moving average of $4.50. Hesai Group has a 12-month low of $3.28 and a 12-month high of $11.55.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.05) EPS 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 during the quarter. On average, equities research analysts expect that Hesai Group will post -0.35 EPS for the current fiscal year.

Hesai Group 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.