Lotus Technology (NASDAQ:LOT) Sets New 1-Year Low – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.48 and last traded at $1.52, with a volume of 218197 shares changing hands. The stock had previously closed at $1.63.

Lotus Technology Trading Down 6.5 %

The stock has a market capitalization of $1.03 billion, a PE ratio of -0.97 and a beta of 0.14. The firm’s fifty day moving average is $2.88 and its 200-day moving average is $3.95.

Institutional Trading of Lotus Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after purchasing an additional 4,848 shares during the period. JPMorgan Chase & Co. purchased a new stake in Lotus Technology during the third quarter worth about $32,000. Jane Street Group LLC purchased a new stake in Lotus Technology during the fourth quarter worth about $37,000. State Street Corp purchased a new stake in Lotus Technology during the third quarter worth about $58,000. Finally, Merit Financial Group LLC purchased a new stake in Lotus Technology during the fourth quarter worth about $46,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.