Lotus Technology (NASDAQ:LOT) Shares Gap Up – Time to Buy?

Lotus Technology Inc. (NASDAQ:LOT) gapped up before the market opened on Wednesday . The stock had previously closed at $2.49, but opened at $2.61. Lotus Technology shares last traded at $2.55, with a volume of 10,675 shares changing hands.

Lotus Technology Trading Up 3.9 %

The firm has a market cap of $1.75 billion, a PE ratio of -1.67 and a beta of 0.09. The business’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $4.37.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LOT. JPMorgan Chase & Co. purchased a new position in shares of Lotus Technology in the 3rd quarter worth approximately $32,000. Merit Financial Group LLC purchased a new position in shares of Lotus Technology in the 4th quarter worth approximately $46,000. Bleakley Financial Group LLC acquired a new stake in Lotus Technology in the 4th quarter worth approximately $48,000. Blue Barn Wealth LLC acquired a new stake in Lotus Technology in the 4th quarter worth approximately $53,000. Finally, Momentous Wealth Management Inc. acquired a new stake in Lotus Technology in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.