Lotus Technology (NASDAQ:LOT) Sets New 52-Week Low – Time to Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $0.8501 and last traded at $0.8550, with a volume of 33733 shares trading hands. The stock had previously closed at $0.8899.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Lotus Technology Stock Performance

The firm has a market capitalization of $558.62 million, a PE ratio of -1.20 and a beta of 0.49. The business’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.21.

Hedge Funds Weigh In On Lotus Technology

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised 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 boosted its stake 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 bought a new position in Lotus Technology in the 2nd quarter worth about $34,000. 63.40% of the stock is owned by 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.