Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Time to Buy?

Lotus Technology Inc. (NASDAQ:LOT) shares saw unusually-high trading volume on Friday . Approximately 94,232 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 114,852 shares.The stock last traded at $2.89 and had previously closed at $2.84.

Lotus Technology Stock Down 4.2 %

The business’s fifty day moving average is $3.61 and its 200 day moving average is $4.57. The stock has a market cap of $1.85 billion, a PE ratio of -1.75 and a beta of 0.13.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings results on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Lotus Technology in the 3rd quarter worth about $32,000. Merit Financial Group LLC purchased a new stake in Lotus Technology in the fourth quarter valued at approximately $46,000. Bleakley Financial Group LLC purchased a new stake in Lotus Technology in the fourth quarter valued at approximately $48,000. State Street Corp acquired a new position in Lotus Technology during the third quarter worth approximately $58,000. Finally, Drive Wealth Management LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.