Lotus Technology (NASDAQ:LOT) Trading Up 8.1% – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price was up 8.1% during trading on Wednesday . The stock traded as high as $1.1893 and last traded at $1.2650. Approximately 8,351 shares changed hands during trading, a decline of 94% from the average daily volume of 134,307 shares. The stock had previously closed at $1.17.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The stock has a market capitalization of $796.19 million, a price-to-earnings ratio of -1.72 and a beta of 0.49. The company’s 50 day moving average is $1.31 and its 200 day moving average is $1.28.

Lotus Technology (NASDAQ:LOT) last released its earnings results on Friday, April 10th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. On average, equities research analysts anticipate 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

A number of hedge funds have recently made changes to their positions in LOT. XTX Topco Ltd acquired a new position in shares of Lotus Technology in the 2nd quarter valued at $34,000. Jane Street Group LLC raised its stake 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 valued at $27,000 after buying an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of 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 buying an additional 4,848 shares in the last quarter. Institutional investors and hedge funds 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.