Lotus Technology (NASDAQ:LOT) Trading Down 4.4% – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) dropped 4.4% during mid-day trading on Monday . The stock traded as low as $1.08 and last traded at $1.08. Approximately 34,885 shares were traded during trading, a decline of 77% from the average daily volume of 153,874 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Lotus Technology Trading Down 1.8%

The company has a market capitalization of $739.29 million, a P/E ratio of -0.88 and a beta of 0.42. The stock’s 50-day moving average price is $1.22 and its 200-day moving average price is $1.52.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LOT. Jane Street Group LLC lifted its holdings in 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 purchasing an additional 6,629 shares during the period. Bank of America Corp DE raised its position in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Lotus Technology in the 2nd quarter worth approximately $34,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.