Lotus Technology (NASDAQ:LOT) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Lotus Technology (NASDAQ:LOT) posted its earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06, FiscalAI reports. The firm had revenue of $134.05 million during the quarter, compared to the consensus estimate of $139.65 million.

Lotus Technology Stock Up 3.5%

LOT stock opened at $1.19 on Thursday. The business’s fifty day moving average is $1.03 and its 200-day moving average is $1.16. The company has a market cap of $764.09 million, a P/E ratio of -1.65 and a beta of 0.52. Lotus Technology has a twelve month low of $0.81 and a twelve month high of $2.28.

Institutional Investors Weigh In On Lotus Technology

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd lifted its stake in Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after buying an additional 9,605 shares during the period. Jane Street Group LLC boosted its holdings 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 buying an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE grew 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 worth $27,000 after buying an additional 4,848 shares during the period. 63.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.