Lotus Technology (NASDAQ:LOT) Shares Down 6% – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT) shares were down 6% during mid-day trading on Tuesday . The company traded as low as $2.02 and last traded at $2.03. Approximately 51,986 shares traded hands during trading, a decline of 64% from the average daily volume of 143,358 shares. The stock had previously closed at $2.16.

Lotus Technology Price Performance

The company has a market cap of $1.46 billion, a price-to-earnings ratio of -1.38 and a beta of 0.43. The business’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $2.58.

Lotus Technology (NASDAQ:LOT) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported ($0.66) earnings per share for the quarter. The firm had revenue of $271.53 million for the quarter.

Institutional Investors Weigh In On Lotus Technology

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares during the period. Bank of America Corp DE grew 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 purchasing an additional 4,848 shares during the period. JPMorgan Chase & Co. purchased a new stake in Lotus Technology in the third quarter valued at approximately $32,000. Bleakley Financial Group LLC purchased a new stake in Lotus Technology in the fourth quarter valued at approximately $48,000. Finally, Blue Barn Wealth LLC purchased a new stake in Lotus Technology in the fourth quarter valued at approximately $53,000. 63.40% of the stock is currently 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.