Lotus Technology (NASDAQ:LOT) Shares Down 9.1% – Time to Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price was down 9.1% during mid-day trading on Monday . The company traded as low as $1.00 and last traded at $0.9910. 132,652 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 185,273 shares. The stock had previously closed at $1.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Lotus Technology Trading Down 1.8%

The stock’s 50-day moving average is $1.03 and its 200-day moving average is $1.16. The stock has a market cap of $629.06 million, a price-to-earnings ratio of -1.36 and a beta of 0.57.

Institutional Investors Weigh In On Lotus Technology

An institutional investor recently raised its stake in Lotus Technology stock. Citadel Advisors LLC grew its holdings in Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) by 146.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,517 shares of the company’s stock after acquiring an additional 62,630 shares during the period. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 as of its most recent SEC filing. Institutional investors own 63.40% of the company’s stock.

Lotus Technology Company Profile

Lotus Technology Inc is a technology-focused luxury electric vehicle company associated with the Lotus automotive brand. The company develops, manufactures and sells battery-electric vehicles that combine performance-oriented engineering with advanced digital and driver-assistance technologies.

Its vehicle portfolio includes the Eletre electric hyper-SUV and the Emeya electric hyper-GT. Lotus Technology is also associated with the Evija, an all-electric hypercar, and supports the development of vehicle software, intelligent driving systems, digital cockpits and other connected-car technologies.

Lotus Technology operates as part of the broader Lotus and Geely automotive ecosystem, with activities spanning China and international markets, including Europe and other regions.