Lotus Technology (NASDAQ:LOT) Shares Gap Up – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares gapped up prior to trading on Friday. The stock had previously closed at $0.8203, but opened at $0.8690. Lotus Technology shares last traded at $0.8690, with a volume of 22,888 shares traded.

Analysts Set New Price Targets

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

Lotus Technology Stock Up 1.2%

The business has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.14. The stock has a market cap of $532.93 million, a P/E ratio of -1.15 and a beta of 0.63.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Lotus Technology stock. Citadel Advisors LLC raised its stake in shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) by 146.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,517 shares of the company’s stock after buying an additional 62,630 shares during the quarter. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 63.40% of the company’s stock.

About Lotus Technology

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.