Lotus Technology (NASDAQ:LOT) Trading 8.1% Higher – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) traded up 8.1% during mid-day trading on Wednesday . The company traded as high as $1.1893 and last traded at $1.2650. 8,351 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 134,307 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lotus Technology has an average rating of “Sell”.

Lotus Technology Trading Up 1.7%

The stock’s 50-day moving average is $1.30 and its 200-day moving average is $1.28. The company has a market cap of $764.09 million, a price-to-earnings ratio of -1.67 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last released its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. As a group, analysts predict that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LOT. XTX Topco Ltd acquired a new position in shares of Lotus Technology during the 2nd quarter valued at $34,000. Jane Street Group LLC lifted its position 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 valued at $27,000 after acquiring an additional 6,629 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Lotus Technology by 178.8% during 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 period. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Lotus Technology

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.