Lotus Technology Inc. (NASDAQ:LOT) Short Interest Up 113.2% in March

Lotus Technology Inc. (NASDAQ:LOT) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 281,700 shares, a growth of 113.2% from the February 28th total of 132,100 shares. Based on an average trading volume of 200,100 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.0% of the shares of the company are short sold.

Lotus Technology Price Performance

Lotus Technology stock traded down $0.05 during midday trading on Friday, reaching $1.80. 114,378 shares of the company traded hands, compared to its average volume of 147,517. Lotus Technology has a 12 month low of $1.42 and a 12 month high of $13.85. The business has a 50 day moving average of $2.31 and a two-hundred day moving average of $3.58. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -1.15 and a beta of 0.14.

Institutional Investors Weigh In On Lotus Technology

A number of hedge funds have recently added to or reduced their stakes in LOT. Bank of America Corp DE grew its holdings in shares of Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after acquiring an additional 4,848 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology during the 3rd quarter valued at about $32,000. Jane Street Group LLC purchased a new stake in shares of Lotus Technology during the 4th quarter valued at about $37,000. Merit Financial Group LLC bought a new position in shares of Lotus Technology in the 4th quarter worth approximately $46,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Lotus Technology in the fourth quarter worth approximately $48,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.