Lotus Technology (NASDAQ:LOT) Shares Gap Up – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $1.29, but opened at $1.35. Lotus Technology shares last traded at $1.3850, with a volume of 70,163 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The company has a market capitalization of $908.85 million, a PE ratio of -1.08 and a beta of 0.42. The company’s fifty day moving average is $1.37 and its 200-day moving average is $1.77.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LOT. Bank of America Corp DE increased its stake in Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares in the last quarter. Jane Street Group LLC raised its stake in Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares during the period. Finally, XTX Topco Ltd purchased a new position in Lotus Technology in the 2nd quarter worth approximately $34,000. Institutional investors 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.