Lotus Technology (NASDAQ:LOT) Shares Gap Up – What’s Next?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares gapped up before the market opened on Wednesday . The stock had previously closed at $1.1850, but opened at $1.2550. Lotus Technology shares last traded at $1.21, with a volume of 6,251 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Lotus Technology Stock Down 1.7%

The company’s 50-day moving average price is $1.31 and its 200-day moving average price is $1.27. The firm has a market cap of $738.40 million, a price-to-earnings ratio of -1.60 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last announced its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The business had revenue of $163.34 million for the quarter, compared to analysts’ expectations of $153.86 million. On average, sell-side analysts predict that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in 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 purchasing an additional 4,848 shares in the last quarter. Jane Street Group LLC raised its position in Lotus Technology by 64.1% in 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 in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Lotus Technology in the 2nd quarter valued at about $34,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.