Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-high trading volume on Tuesday . 446,527 shares changed hands during trading, an increase of 149% from the previous session’s volume of 178,971 shares.The stock last traded at $1.1380 and had previously closed at $1.15.

Analysts Set New Price Targets

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

Lotus Technology Trading Down 5.7%

The firm has a market capitalization of $696.67 million, a price-to-earnings ratio of -1.51 and a beta of 0.57. The firm’s 50-day moving average is $1.05 and its 200 day moving average is $1.16.

Institutional Trading of Lotus Technology

Several institutional investors have recently modified their holdings of LOT. Bank of America Corp DE increased its holdings in 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 purchasing an additional 4,848 shares during the period. Jane Street Group LLC lifted its holdings 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 buying an additional 6,629 shares during the period. XTX Topco Ltd bought a new stake in shares of Lotus Technology in the 2nd quarter valued at about $34,000. Finally, Citadel Advisors LLC grew its position in shares of Lotus Technology by 146.0% in the 2nd quarter. Citadel Advisors LLC now owns 105,517 shares of the company’s stock valued at $123,000 after buying an additional 62,630 shares during the last quarter. Institutional investors own 63.40% of the company’s stock.

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.