Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw strong trading volume on Tuesday . 159,571 shares were traded during trading, an increase of 26% from the previous session’s volume of 127,087 shares.The stock last traded at $1.46 and had previously closed at $1.39.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lotus Technology has an average rating of “Sell”.

Lotus Technology Stock Up 4.7%

The firm has a 50-day moving average of $1.46 and a two-hundred day moving average of $1.88. The company has a market capitalization of $986.84 million, a PE ratio of -1.17 and a beta of 0.43.

Institutional Trading of Lotus Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after acquiring an additional 4,848 shares during the period. Jane Street Group LLC raised its holdings in Lotus Technology by 64.1% in the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after purchasing an additional 6,629 shares during the period. Finally, XTX Topco Ltd purchased a new position in Lotus Technology during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.