Lotus Technology (NASDAQ:LOT) Trading 6% Higher – Here’s What Happened

Shares of Lotus Technology Inc. (NASDAQ:LOT) were up 6% during mid-day trading on Monday . The stock traded as high as $1.43 and last traded at $1.40. Approximately 15,411 shares changed hands during trading, a decline of 90% from the average daily volume of 158,213 shares. The stock had previously closed at $1.32.

Lotus Technology Stock Up 5.7 %

The company has a market capitalization of $948.12 million, a price-to-earnings ratio of -0.90 and a beta of 0.28. The stock has a fifty day moving average price of $1.65 and a two-hundred day moving average price of $3.02.

Lotus Technology (NASDAQ:LOT) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported ($0.66) earnings per share (EPS) for the quarter. The firm had revenue of $271.53 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of Lotus Technology in the 3rd quarter valued at $32,000. Bleakley Financial Group LLC acquired a new stake in Lotus Technology during the 4th quarter valued at $48,000. Tidal Investments LLC acquired a new stake in shares of Lotus Technology in the 3rd quarter valued at $402,000. Merit Financial Group LLC acquired a new stake in shares of Lotus Technology in the 4th quarter valued at $46,000. Finally, State Street Corp acquired a new stake in shares of Lotus Technology during the third quarter worth $58,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.