Lotus Technology (NASDAQ:LOT) Trading Up 9.2% – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) traded up 9.2% during mid-day trading on Wednesday . The stock traded as high as $0.9756 and last traded at $0.9716. 191,482 shares changed hands during trading, an increase of 55% from the average session volume of 123,901 shares. The stock had previously closed at $0.8899.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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, the company has an average rating of “Sell”.

Lotus Technology Stock Performance

The stock’s fifty day simple moving average is $1.05 and its two-hundred day simple moving average is $1.17. The company has a market capitalization of $634.38 million, a price-to-earnings ratio of -1.32 and a beta of 0.52.

Institutional Trading of Lotus Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its position in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the last quarter. 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 valued at $27,000 after buying an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Lotus Technology during the 2nd quarter valued at $34,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.