Short Interest in Lotus Technology Inc. (NASDAQ:LOT) Declines By 27.4%

Lotus Technology Inc. (NASDAQ:LOT) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 132,100 shares, a drop of 27.4% from the February 13th total of 182,000 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 144,100 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Lotus Technology

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in shares of Lotus Technology during the 3rd quarter valued at $32,000. Bank of America Corp DE increased its position in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after purchasing an additional 4,848 shares during the period. Jane Street Group LLC bought a new stake in shares of Lotus Technology during the 4th quarter worth $37,000. State Street Corp bought a new stake in shares of Lotus Technology during the 3rd quarter worth $58,000. Finally, Merit Financial Group LLC bought a new stake in shares of Lotus Technology during the 4th quarter worth $46,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

Lotus Technology Stock Performance

Shares of LOT stock traded down $0.03 during mid-day trading on Friday, hitting $1.61. 129,348 shares of the stock traded hands, compared to its average volume of 130,111. Lotus Technology has a twelve month low of $1.45 and a twelve month high of $13.85. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -1.03 and a beta of 0.14. The company’s 50-day simple moving average is $2.67 and its 200-day simple moving average is $3.82.

About Lotus Technology

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.