Lotus Technology (NASDAQ:LOT) Trading Up 9.4% – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price traded up 9.4% on Wednesday . The company traded as high as $0.9296 and last traded at $0.9296. 7,743 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 122,684 shares. The stock had previously closed at $0.8499.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Lotus Technology Trading Up 7.5%

The stock has a market capitalization of $611.27 million, a P/E ratio of -1.32 and a beta of 0.52. The company has a fifty day simple moving average of $1.10 and a two-hundred day simple moving average of $1.19.

Hedge Funds Weigh In On Lotus Technology

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in Lotus Technology by 178.8% in the fourth 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. Jane Street Group LLC raised its position in shares of 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 acquiring an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after acquiring an additional 9,605 shares during the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.