Lotus Technology (NASDAQ:LOT) Shares Gap Up – Time to Buy?

Lotus Technology Inc. (NASDAQ:LOT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.42, but opened at $4.57. Lotus Technology shares last traded at $4.47, with a volume of 26,199 shares trading hands.

Lotus Technology Trading Down 3.1 %

The business has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $6.12. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 7.93. The company has a market cap of $2.92 billion, a PE ratio of -3.53 and a beta of 0.14.

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

Institutional Trading of Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp purchased a new position in shares of Lotus Technology Inc. (NASDAQ:LOT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,533 shares of the company’s stock, valued at approximately $58,000. Institutional investors 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.