Lotus Technology (NASDAQ:LOT) Hits New 12-Month Low – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $0.8501 and last traded at $0.8550, with a volume of 33733 shares traded. The stock had previously closed at $0.8899.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Lotus Technology currently has an average rating of “Sell”.

Lotus Technology Stock Performance

The stock has a market capitalization of $558.62 million, a P/E ratio of -1.20 and a beta of 0.49. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $1.21.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd grew 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 purchasing an additional 9,605 shares during the last quarter. Jane Street Group LLC boosted 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, Bank of America Corp DE increased 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 buying an additional 4,848 shares during the period. 63.40% of the stock is 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.