Lotus Technology (NASDAQ:LOT) Trading 6% Higher – What’s Next?

Shares of Lotus Technology Inc. (NASDAQ:LOT) rose 6% during mid-day trading on Friday . The company traded as high as $1.55 and last traded at $1.59. Approximately 36,759 shares changed hands during trading, a decline of 72% from the average daily volume of 130,515 shares. The stock had previously closed at $1.50.

Lotus Technology Stock Performance

The company’s 50 day moving average is $2.45 and its 200 day moving average is $3.68. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -1.01 and a beta of 0.14.

Institutional Investors Weigh In On Lotus Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at approximately $1,426,000. Tidal Investments LLC acquired a new position in shares of Lotus Technology during the 3rd quarter worth about $402,000. Townsquare Capital LLC bought a new position in Lotus Technology in the fourth quarter valued at approximately $236,000. Orion Portfolio Solutions LLC bought a new position in shares of Lotus Technology in the fourth quarter valued at $165,000. Finally, Savant Capital LLC acquired a new position in shares of Lotus Technology during the 4th quarter worth about $109,000. 63.40% of the stock is owned by 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.