Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw an uptick in trading volume on Tuesday . 446,527 shares changed hands during mid-day trading, an increase of 149% from the previous session’s volume of 178,971 shares.The stock last traded at $1.1380 and had previously closed at $1.15.

Wall Street Analyst Weigh In

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

Lotus Technology Stock Down 5.7%

The company’s fifty day moving average is $1.05 and its 200 day moving average is $1.16. The firm has a market cap of $696.67 million, a price-to-earnings ratio of -1.51 and a beta of 0.57.

Hedge Funds Weigh In On Lotus Technology

A number of large investors have recently made changes to their positions in LOT. Citadel Advisors LLC grew its holdings in Lotus Technology by 146.0% in the 2nd quarter. Citadel Advisors LLC now owns 105,517 shares of the company’s stock valued at $123,000 after buying an additional 62,630 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after acquiring an additional 9,605 shares in the last quarter. Jane Street Group LLC boosted its holdings 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 purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares during the last quarter. 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.