Lotus Technology (NASDAQ:LOT) Trading Up 6.1% – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) traded up 6.1% during trading on Tuesday . The company traded as high as $1.2099 and last traded at $1.22. 203,966 shares were traded during trading, an increase of 20% from the average daily volume of 169,828 shares. The stock had previously closed at $1.15.

Wall Street Analyst Weigh In

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

Lotus Technology Stock Performance

The business has a 50 day moving average of $1.04 and a two-hundred day moving average of $1.16. The stock has a market capitalization of $769.87 million, a PE ratio of -1.67 and a beta of 0.52.

Institutional Trading of Lotus Technology

Several hedge funds have recently modified their holdings of LOT. Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 4,848 shares in the last quarter. Jane Street Group LLC raised its stake in shares of 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 in the last quarter. Finally, XTX Topco Ltd lifted its position in Lotus Technology by 21.3% during the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after acquiring an additional 9,605 shares during the last quarter. 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.