Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw strong trading volume on Monday . Approximately 382,829 shares changed hands during trading, an increase of 132% from the previous session’s volume of 164,833 shares.The stock last traded at $1.1740 and had previously closed at $1.24.

Analyst Ratings Changes

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

Lotus Technology Trading Down 3.2%

The business has a 50 day moving average of $1.04 and a 200-day moving average of $1.16. The stock has a market cap of $770.51 million, a PE ratio of -1.67 and a beta of 0.52.

Institutional Trading of Lotus Technology

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased its position in shares of Lotus Technology by 21.3% during the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after acquiring an additional 9,605 shares during the last quarter. Jane Street Group LLC grew its stake in 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 purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in 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 purchasing an additional 4,848 shares in the last quarter. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.