Lotus Technology (NASDAQ:LOT) Shares Down 4.4% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price traded down 4.4% during mid-day trading on Thursday . The stock traded as low as $1.90 and last traded at $1.94. 52,793 shares were traded during mid-day trading, a decline of 64% from the average session volume of 146,134 shares. The stock had previously closed at $2.03.

Lotus Technology Stock Performance

The business has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $3.62. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -1.18 and a beta of 0.14.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently bought and sold shares of LOT. Bank of America Corp DE increased its holdings in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Lotus Technology during the third quarter worth $32,000. Jane Street Group LLC purchased a new stake in Lotus Technology in the fourth quarter valued at $37,000. Merit Financial Group LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at $46,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Lotus Technology during the 4th quarter worth $48,000. 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.