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

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped up before the market opened on Friday. The stock had previously closed at $0.8203, but opened at $0.8690. Lotus Technology shares last traded at $0.8690, with a volume of 22,888 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Lotus Technology Trading Up 1.2%

The stock has a market capitalization of $532.93 million, a PE ratio of -1.15 and a beta of 0.63. The firm has a 50 day moving average price of $0.99 and a 200 day moving average price of $1.14.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Lotus Technology stock. Citadel Advisors LLC increased its position in Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) by 146.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,517 shares of the company’s stock after acquiring an additional 62,630 shares during the quarter. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 at the end of the most recent quarter. Institutional investors own 63.40% of the company’s stock.

About Lotus Technology

Lotus Technology Inc is a technology-focused luxury electric vehicle company associated with the Lotus automotive brand. The company develops, manufactures and sells battery-electric vehicles that combine performance-oriented engineering with advanced digital and driver-assistance technologies.

Its vehicle portfolio includes the Eletre electric hyper-SUV and the Emeya electric hyper-GT. Lotus Technology is also associated with the Evija, an all-electric hypercar, and supports the development of vehicle software, intelligent driving systems, digital cockpits and other connected-car technologies.

Lotus Technology operates as part of the broader Lotus and Geely automotive ecosystem, with activities spanning China and international markets, including Europe and other regions.