Lotus Technology (NASDAQ:LOT) Stock Price Down 1.5% – Should You Sell?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) dropped 1.5% on Wednesday . The company traded as low as $1.28 and last traded at $1.30. Approximately 40,705 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 118,246 shares. The stock had previously closed at $1.32.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lotus Technology currently has a consensus rating of “Sell”.

Lotus Technology Price Performance

The stock’s 50-day moving average is $1.30 and its 200-day moving average is $1.28.

Lotus Technology (NASDAQ:LOT) last announced its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $163.34 million during the quarter, compared to the consensus estimate of $153.86 million. On average, equities analysts forecast that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lotus Technology

Several large investors have recently made changes to their positions in the business. 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 valued at $27,000 after purchasing an additional 4,848 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of 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 buying an additional 9,605 shares during the period. 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.