Lotus Technology (NASDAQ:LOT) Shares Gap Down – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT) shares gapped down prior to trading on Monday . The stock had previously closed at $1.61, but opened at $1.51. Lotus Technology shares last traded at $1.47, with a volume of 14,263 shares.

Lotus Technology Stock Down 5.6 %

The business has a fifty day simple moving average of $2.67 and a 200-day simple moving average of $3.81. The firm has a market cap of $1.03 billion, a P/E ratio of -0.98 and a beta of 0.14.

Institutional Investors Weigh In On Lotus Technology

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology during the third quarter valued at $32,000. Bank of America Corp DE boosted its position in shares of Lotus Technology by 178.8% during the fourth 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 during the last quarter. Jane Street Group LLC purchased a new stake in shares of Lotus Technology during the fourth quarter valued at $37,000. State Street Corp purchased a new stake in shares of Lotus Technology during the third quarter valued at $58,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Lotus Technology during the fourth quarter valued at $46,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.