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

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up prior to trading on Wednesday . The stock had previously closed at $1.29, but opened at $1.35. Lotus Technology shares last traded at $1.3850, with a volume of 70,163 shares changing hands.

Analyst Ratings Changes

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

Lotus Technology Stock Down 4.7%

The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.76. The stock has a market capitalization of $834.24 million, a P/E ratio of -0.99 and a beta of 0.42.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of Lotus Technology by 178.8% during 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 increased its holdings in Lotus Technology by 64.1% during 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. Finally, XTX Topco Ltd acquired a new stake in shares of Lotus Technology in the 2nd quarter valued at 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.