Lotus Technology (NASDAQ:LOT) Trading Down 3.9% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price was down 3.9% on Friday . The company traded as low as $3.13 and last traded at $3.09. Approximately 12,647 shares changed hands during trading, a decline of 90% from the average daily volume of 123,507 shares. The stock had previously closed at $3.21.

Lotus Technology Trading Down 0.8 %

The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -2.04 and a beta of 0.13. The company’s fifty day moving average is $3.81 and its two-hundred day moving average is $4.76.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently added to or reduced their stakes in LOT. JPMorgan Chase & Co. acquired a new position in shares of Lotus Technology during the third quarter worth about $32,000. State Street Corp purchased a new stake in shares of Lotus Technology in the 3rd quarter valued at approximately $58,000. Merit Financial Group LLC purchased a new stake in shares of Lotus Technology in the 4th quarter valued at approximately $46,000. Drive Wealth Management LLC acquired a new stake in shares of Lotus Technology in the 4th quarter valued at $89,000. Finally, Tidal Investments LLC purchased a new stake in shares of Lotus Technology during the 3rd quarter worth $402,000. 63.40% of the stock is 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.