Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw an uptick in trading volume on Tuesday . Approximately 154,847 shares changed hands during trading, an increase of 22% from the previous session’s volume of 127,131 shares.The stock last traded at $1.0450 and had previously closed at $1.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Lotus Technology presently has an average rating of “Sell”.

Lotus Technology Trading Down 4.1%

The stock has a market cap of $670.98 million, a price-to-earnings ratio of -1.45 and a beta of 0.52. The stock’s 50 day moving average is $1.05 and its two-hundred day moving average is $1.16.

Hedge Funds Weigh In On Lotus Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares during the period. Jane Street Group LLC lifted its position in Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Lotus Technology in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.