Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares saw unusually-high trading volume on Tuesday . Approximately 159,571 shares were traded during trading, an increase of 26% from the previous session’s volume of 127,087 shares.The stock last traded at $1.46 and had previously closed at $1.39.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The business has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $1.88. The firm has a market capitalization of $986.84 million, a price-to-earnings ratio of -1.17 and a beta of 0.43.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 4,848 shares during the period. Jane Street Group LLC increased its stake in Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Lotus Technology during the 2nd quarter worth approximately $34,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.