Lotus Technology (NASDAQ:LOT) Stock Price Down 4.5% – Here’s What Happened

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOTGet Free Report) were down 4.5% during trading on Wednesday . The company traded as low as $1.39 and last traded at $1.3750. Approximately 9,043 shares were traded during trading, a decline of 93% from the average daily volume of 126,996 shares. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Report on LOT

Lotus Technology Price Performance

The business has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.88. The stock has a market capitalization of $929.87 million, a PE ratio of -1.10 and a beta of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its position in shares of Lotus Technology by 64.1% during the first 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 in the last quarter. Bank of America Corp DE boosted its stake in Lotus Technology by 178.8% during the 4th 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 last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Lotus Technology in the 2nd quarter worth $34,000. Institutional investors own 63.40% of the company’s stock.

Lotus Technology Company Profile

(Get Free Report)

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.

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