Lotus Technology (NASDAQ:LOT) Trading 2.5% Higher – Should You Buy?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price rose 2.5% during mid-day trading on Tuesday . The company traded as high as $1.68 and last traded at $1.64. Approximately 8,275 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 146,928 shares. The stock had previously closed at $1.60.

Lotus Technology Stock Performance

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -1.04 and a beta of 0.14. The stock has a fifty day simple moving average of $2.27 and a two-hundred day simple moving average of $3.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOT. Bank of America Corp DE boosted its stake in shares of Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after purchasing an additional 4,848 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Lotus Technology in the 3rd quarter valued at approximately $32,000. Jane Street Group LLC acquired a new stake in Lotus Technology in the fourth quarter valued at approximately $37,000. State Street Corp bought a new stake in shares of Lotus Technology during the third quarter worth $58,000. Finally, Merit Financial Group LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth $46,000. Institutional investors 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.