Lotus Technology Inc. (NASDAQ:LOT) Sees Significant Increase in Short Interest

Lotus Technology Inc. (NASDAQ:LOT) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 470,200 shares, a growth of 66.9% from the March 15th total of 281,700 shares. Based on an average trading volume of 205,300 shares, the short-interest ratio is presently 2.3 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its position in Lotus Technology by 39.0% in the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after acquiring an additional 30,933 shares during the period. Bank of America Corp DE lifted its holdings in 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 buying an additional 4,848 shares during the period. Jane Street Group LLC bought a new stake in shares of Lotus Technology in the 4th quarter valued at about $37,000. Marshall Wace LLP acquired a new stake in shares of Lotus Technology in the fourth quarter valued at about $63,000. Finally, Mariner LLC bought a new position in shares of Lotus Technology during the fourth quarter worth about $1,426,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

Lotus Technology Stock Up 2.3 %

Shares of LOT opened at $1.31 on Friday. The stock has a market cap of $887.17 million, a PE ratio of -0.84 and a beta of 0.28. Lotus Technology has a 12-month low of $1.06 and a 12-month high of $13.85. The business has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $3.19.

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.