Lotus Technology (NASDAQ:LOT) Shares Gap Up – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.39, but opened at $1.44. Lotus Technology shares last traded at $1.4750, with a volume of 5,472 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Lotus Technology Stock Up 2.5%

The firm’s 50 day moving average is $1.92 and its two-hundred day moving average is $2.05. The company has a market cap of $966.49 million, a P/E ratio of -0.99 and a beta of 0.42.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in shares of Lotus Technology by 64.1% in the first 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 during the period. Bank of America Corp DE grew 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 buying an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Lotus Technology during the second quarter valued at about $34,000. Hedge funds and other institutional investors 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.