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

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOTGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $0.9072, but opened at $0.9998. Lotus Technology shares last traded at $0.9480, with a volume of 2,608 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lotus Technology has a consensus rating of “Sell”.

Check Out Our Latest Report on LOT

Lotus Technology Price Performance

The stock has a market cap of $590.08 million, a price-to-earnings ratio of -1.28 and a beta of 0.49. The business’s 50 day moving average is $1.19 and its 200 day moving average is $1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd raised its position in shares of Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after acquiring an additional 9,605 shares in the last quarter. Jane Street Group LLC boosted its holdings in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Lotus Technology by 178.8% in the fourth 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. 63.40% of the stock is owned by institutional investors and hedge funds.

Lotus Technology Company Profile

(Get Free Report)

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.

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