Lotus Technology (NASDAQ:LOT) Hits New 52-Week Low – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $0.93 and last traded at $0.9660, with a volume of 47632 shares changing hands. The stock had previously closed at $1.02.

Wall Street Analysts Forecast Growth

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

Lotus Technology Trading Down 8.9%

The company’s fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.24. The firm has a market capitalization of $596.50 million, a P/E ratio of -1.29 and a beta of 0.49.

Institutional Trading of Lotus Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake 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 worth $27,000 after purchasing an additional 4,848 shares during the period. Jane Street Group LLC lifted its position in Lotus Technology by 64.1% during the first 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 during the period. Finally, XTX Topco Ltd boosted its holdings in shares of Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after buying an additional 9,605 shares in the last quarter. 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.