Lotus Technology (NASDAQ:LOT) Hits New 52-Week Low – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) shares reached a new 52-week low on Thursday . The company traded as low as $3.96 and last traded at $4.18, with a volume of 272422 shares trading hands. The stock had previously closed at $4.45.

Lotus Technology Stock Performance

The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -3.51 and a beta of 0.14. The company has a 50-day moving average price of $4.65 and a 200-day moving average price of $6.12. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 7.93.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $225.03 million during the quarter.

Institutional Investors Weigh In On Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp purchased a new stake in shares of Lotus Technology Inc. (NASDAQ:LOT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,533 shares of the company’s stock, valued at approximately $58,000. Institutional investors and hedge funds 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.