Lotus Technology (NASDAQ:LOT) Trading Down 4.5% – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price was down 4.5% during mid-day trading on Thursday . The stock traded as low as $1.1950 and last traded at $1.1750. Approximately 16,458 shares traded hands during trading, a decline of 87% from the average session volume of 128,031 shares. The stock had previously closed at $1.23.

Wall Street Analyst Weigh In

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

Lotus Technology Stock Performance

The company has a market cap of $751.89 million, a PE ratio of -1.64 and a beta of 0.49. The firm has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $1.25.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $163.34 million for the quarter, compared to analysts’ expectations of $153.86 million. As a group, equities analysts predict that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Trading of Lotus Technology

Several institutional investors have recently made changes to their positions in LOT. Jane Street Group LLC increased its holdings 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 buying an additional 6,629 shares during the last quarter. Bank of America Corp DE boosted its holdings 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. Finally, XTX Topco Ltd purchased a new stake in Lotus Technology during the second quarter valued at about $34,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.