Lotus Technology (NASDAQ:LOT) Stock Price Up 9.9% – Still a Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shot up 9.9% during trading on Wednesday . The stock traded as high as $1.22 and last traded at $1.22. 56,621 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 139,828 shares. The stock had previously closed at $1.11.

Analyst Ratings Changes

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

Lotus Technology Trading Up 5.9%

The stock has a market capitalization of $796.93 million, a P/E ratio of -0.95 and a beta of 0.42. The firm’s fifty day moving average is $1.19 and its 200-day moving average is $1.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in shares of 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 acquiring an additional 6,629 shares in the last quarter. Bank of America Corp DE increased its holdings in 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 in the last quarter. Finally, XTX Topco Ltd bought a new position in Lotus Technology in the 2nd quarter valued at $34,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.