Lotus Technology (NASDAQ:LOT) Hits New 12-Month Low – What’s Next?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) reached a new 52-week low during trading on Friday . The company traded as low as $1.00 and last traded at $1.0350, with a volume of 118120 shares. The stock had previously closed at $1.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The stock has a market capitalization of $685.11 million, a P/E ratio of -1.48 and a beta of 0.49. The firm has a 50-day moving average price of $1.28 and a 200 day moving average price of $1.26.

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

Institutional Trading of Lotus Technology

Several hedge funds have recently added to or reduced their stakes in LOT. Bank of America Corp DE grew its stake 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 valued at $27,000 after buying an additional 4,848 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of 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 acquiring an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Lotus Technology during the 2nd quarter valued at about $34,000. 63.40% of the stock is owned by institutional investors.

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.