Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Time to Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares saw an uptick in trading volume on Monday . Approximately 382,829 shares traded hands during trading, an increase of 132% from the previous session’s volume of 164,833 shares.The stock last traded at $1.1740 and had previously closed at $1.24.

Wall Street Analysts Forecast Growth

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

Lotus Technology Price Performance

The company’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $1.16. The company has a market capitalization of $776.93 million, a price-to-earnings ratio of -1.68 and a beta of 0.56.

Institutional Trading of Lotus Technology

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd grew its holdings in Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after purchasing an additional 9,605 shares during the period. Jane Street Group LLC boosted 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 worth $27,000 after purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after purchasing an additional 4,848 shares in the last quarter. Institutional investors own 63.40% of the company’s stock.

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.