Lotus Technology (NASDAQ:LOT) Trading Up 7.8% – Here’s What Happened

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) traded up 7.8% during mid-day trading on Thursday . The stock traded as high as $0.91 and last traded at $0.9570. Approximately 10,079 shares changed hands during trading, a decline of 92% from the average session volume of 125,777 shares. The stock had previously closed at $0.8881.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lotus Technology currently has a consensus rating of “Sell”.

Lotus Technology Trading Down 3.7%

The company’s fifty day moving average is $1.18 and its 200 day moving average is $1.22. The company has a market capitalization of $561.19 million, a P/E ratio of -1.21 and a beta of 0.49.

Institutional Investors Weigh In On Lotus Technology

Several institutional investors have recently made changes to their positions in LOT. Bank of America Corp DE boosted its holdings in shares of Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $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 1st 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. Finally, XTX Topco Ltd purchased a new stake in Lotus Technology during the 2nd quarter worth about $34,000. 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.