Lotus Technology (NASDAQ:LOT) Trading Down 4.4% – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price traded down 4.4% on Monday . The stock traded as low as $1.08 and last traded at $1.08. 34,885 shares were traded during trading, a decline of 77% from the average session volume of 153,874 shares. The stock had previously closed at $1.13.

Wall Street Analyst Weigh In

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

Lotus Technology Price Performance

The firm has a 50-day moving average of $1.24 and a 200-day moving average of $1.54. The stock has a market cap of $735.89 million, a PE ratio of -0.87 and a beta of 0.42.

Institutional Investors Weigh In On Lotus Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Lotus Technology during the second quarter worth $34,000. Jane Street Group LLC grew its stake in Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after acquiring an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings 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 valued at $27,000 after acquiring an additional 4,848 shares during the last quarter. 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.