Lotus Technology (NASDAQ:LOT) Stock Price Down 4.7% – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price traded down 4.7% during mid-day trading on Friday . The company traded as low as $1.33 and last traded at $1.3250. 26,612 shares changed hands during trading, a decline of 79% from the average session volume of 127,932 shares. The stock had previously closed at $1.39.

Wall Street Analyst Weigh In

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, the stock has a consensus rating of “Sell”.

Lotus Technology Stock Down 2.5%

The business’s fifty day moving average is $1.55 and its two-hundred day moving average is $1.93. The firm has a market cap of $919.02 million, a price-to-earnings ratio of -1.09 and a beta of 0.43.

Hedge Funds Weigh In On Lotus Technology

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Lotus Technology in the 2nd quarter valued at about $34,000. Jane Street Group LLC raised 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 worth $27,000 after buying an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Lotus Technology by 178.8% in the fourth 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 during the period. 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.