Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Here’s What Happened
by Renee Jackson · The Cerbat GemLotus Technology Inc. Sponsored ADR (NASDAQ:LOT – Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 159,571 shares were traded during trading, an increase of 26% from the previous session’s volume of 127,087 shares.The stock last traded at $1.46 and had previously closed at $1.39.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on LOT
Lotus Technology Stock Performance
The business has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.88. The stock has a market capitalization of $956.32 million, a P/E ratio of -1.14 and a beta of 0.43.
Institutional Investors Weigh In On Lotus Technology
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew 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. Bank of America Corp DE raised its holdings 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 worth $27,000 after purchasing an additional 4,848 shares during the period. Finally, XTX Topco Ltd purchased a new position in Lotus Technology during the second quarter valued at $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.