Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) shares gapped down prior to trading on Thursday . The stock had previously closed at $3.91, but opened at $3.80. Lotus Technology shares last traded at $3.95, with a volume of 7,463 shares changing hands.

Lotus Technology Trading Down 2.6 %

The company has a market capitalization of $2.58 billion, a P/E ratio of -2.44 and a beta of 0.10. The company has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $5.21. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61.

Hedge Funds Weigh In On Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp purchased a new position in Lotus Technology Inc. (NASDAQ:LOT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,533 shares of the company’s stock, valued at approximately $58,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

Lotus Technology Company Profile

Lotus Technology Inc engages in the design, development, and sale of battery electric lifestyle vehicles worldwide. It also distributes sports cars. The company sells its products under the Lotus brand. Lotus Technology Inc is based in Shanghai, China.