Lotus Technology (NASDAQ:LOT) Stock Price Down 4.4% – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT) shares fell 4.4% during mid-day trading on Thursday . The stock traded as low as $1.90 and last traded at $1.94. 52,793 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 146,134 shares. The stock had previously closed at $2.03.

Lotus Technology Stock Down 2.7 %

The stock has a market capitalization of $1.22 billion, a PE ratio of -1.15 and a beta of 0.14. The business’s fifty day moving average is $2.31 and its 200-day moving average is $3.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mariner LLC acquired a new stake in shares of Lotus Technology in the fourth quarter valued at about $1,426,000. Tidal Investments LLC boosted its stake in shares of Lotus Technology by 39.0% in the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after purchasing an additional 30,933 shares during the period. Townsquare Capital LLC acquired a new stake in Lotus Technology during the 4th quarter valued at $236,000. Orion Portfolio Solutions LLC purchased a new stake in Lotus Technology during the 4th quarter worth $165,000. Finally, Savant Capital LLC acquired a new position in Lotus Technology in the 4th quarter worth $109,000. Institutional investors and hedge funds 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.