Lotus Technology (NASDAQ:LOT) Reaches New 1-Year Low – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOTGet Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $0.8501 and last traded at $0.8550, with a volume of 33733 shares trading hands. The stock had previously closed at $0.8899.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lotus Technology currently has an average rating of “Sell”.

Check Out Our Latest Research Report on Lotus Technology

Lotus Technology Stock Down 2.7%

The firm has a fifty day moving average of $1.13 and a 200-day moving average of $1.20. The stock has a market capitalization of $539.42 million, a price-to-earnings ratio of -1.17 and a beta of 0.49.

Institutional Investors Weigh In On Lotus Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in 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 acquiring an additional 4,848 shares during the last quarter. Jane Street Group LLC raised its position in Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Lotus Technology during the second quarter worth about $34,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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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