Lotus Technology (NASDAQ:LOT) Trading 3.1% Higher – Still a Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shot up 3.1% on Monday . The stock traded as high as $1.38 and last traded at $1.35. 118,622 shares traded hands during trading, a decline of 6% from the average session volume of 126,659 shares. The stock had previously closed at $1.31.

Analysts Set New Price Targets

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

Lotus Technology Stock Up 4.1%

The company has a market capitalization of $925.12 million, a P/E ratio of -1.10 and a beta of 0.43. The business has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $1.89.

Institutional Investors Weigh In On Lotus Technology

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its position in Lotus Technology by 178.8% in 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. 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 valued at $27,000 after purchasing an additional 6,629 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Lotus Technology in the second quarter worth about $34,000. 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.