Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT – Get Free Report)’s share price gapped down prior to trading on Friday. The stock had previously closed at $0.8788, but opened at $0.84. Lotus Technology shares last traded at $0.9040, with a volume of 15,680 shares changing hands.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on Lotus Technology

Lotus Technology Trading Up 3.2%

The company’s 50 day simple moving average is $1.00 and its 200 day simple moving average is $1.15. The stock has a market capitalization of $582.38 million, a PE ratio of -1.26 and a beta of 0.57.

Institutional Investors Weigh In On Lotus Technology

A hedge fund recently raised its position in Lotus Technology stock. Citadel Advisors LLC boosted its holdings in Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT – Free Report) by 146.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,517 shares of the company’s stock after purchasing an additional 62,630 shares during the quarter. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 as of its most recent filing with the Securities and Exchange Commission. 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 is a technology-focused luxury electric vehicle company associated with the Lotus automotive brand. The company develops, manufactures and sells battery-electric vehicles that combine performance-oriented engineering with advanced digital and driver-assistance technologies.

Its vehicle portfolio includes the Eletre electric hyper-SUV and the Emeya electric hyper-GT. Lotus Technology is also associated with the Evija, an all-electric hypercar, and supports the development of vehicle software, intelligent driving systems, digital cockpits and other connected-car technologies.

Lotus Technology operates as part of the broader Lotus and Geely automotive ecosystem, with activities spanning China and international markets, including Europe and other regions.

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