Lotus Technology (NASDAQ:LOT) Shares Down 9.3% – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price was down 9.3% during mid-day trading on Monday . The stock traded as low as $1.2150 and last traded at $1.2250. Approximately 67,342 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 130,036 shares. The stock had previously closed at $1.35.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The company has a market capitalization of $857.97 million, a P/E ratio of -1.02 and a beta of 0.43. The business’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.99.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings 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 acquiring an additional 4,848 shares during the period. XTX Topco Ltd bought a new stake in shares of Lotus Technology during the second quarter worth $34,000. Finally, Jane Street Group LLC boosted its stake in shares of Lotus Technology by 64.1% during the first 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 during the period. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.