Lotus Technology (NASDAQ:LOT) Shares Up 4.8% – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price shot up 4.8% during trading on Monday . The stock traded as high as $1.44 and last traded at $1.4250. 82,579 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 129,842 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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.com, Lotus Technology currently has an average rating of “Sell”.

Lotus Technology Trading Down 0.4%

The company has a market cap of $942.75 million, a price-to-earnings ratio of -1.12 and a beta of 0.43. The business has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.94.

Hedge Funds Weigh In On Lotus Technology

A number of hedge funds and other institutional investors have recently modified their holdings of LOT. Jane Street Group LLC increased its stake in Lotus Technology by 64.1% in the 1st 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 in the last quarter. 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 buying an additional 4,848 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Lotus Technology in the second quarter worth about $34,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.