Lotus Technology (NASDAQ:LOT) Shares Gap Up – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) gapped up prior to trading on Thursday . The stock had previously closed at $3.18, but opened at $3.40. Lotus Technology shares last traded at $3.31, with a volume of 6,396 shares trading hands.

Lotus Technology Price Performance

The stock has a 50-day moving average of $3.88 and a 200-day moving average of $4.84. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -2.22 and a beta of 0.13.

Institutional Trading of Lotus Technology

Several large investors have recently made changes to their positions in LOT. Merit Financial Group LLC acquired a new stake in Lotus Technology in the fourth quarter valued at about $46,000. JPMorgan Chase & Co. acquired a new stake in shares of Lotus Technology in the 3rd quarter valued at approximately $32,000. Tidal Investments LLC bought a new position in Lotus Technology in the 3rd quarter valued at approximately $402,000. Finally, State Street Corp acquired a new stake in Lotus Technology in the third quarter valued at approximately $58,000. Institutional investors and hedge funds 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.