Lotus Technology (NASDAQ:LOT) Shares Down 7.3% – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) fell 7.3% on Wednesday . The company traded as low as $1.39 and last traded at $1.3910. 104,023 shares were traded during mid-day trading, a decline of 23% from the average session volume of 134,302 shares. The stock had previously closed at $1.50.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Lotus Technology Trading Down 7.3%

The business has a 50 day simple moving average of $1.93 and a 200-day simple moving average of $2.05. The stock has a market capitalization of $942.76 million, a price-to-earnings ratio of -0.97 and a beta of 0.42.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings data on Friday, August 29th. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $125.50 million for the quarter.

Institutional Trading of Lotus Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after buying an additional 4,848 shares during the last quarter. XTX Topco Ltd acquired a new stake in Lotus Technology during the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC boosted its stake in shares of Lotus Technology by 64.1% during the 1st 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 in the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.