Lotus Technology (NASDAQ:LOT) Shares Gap Down – Time to Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $1.41, but opened at $1.36. Lotus Technology shares last traded at $1.3790, with a volume of 5,295 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 data from MarketBeat, Lotus Technology presently has an average rating of “Sell”.

Lotus Technology Stock Up 1.1%

The company has a market cap of $966.49 million, a price-to-earnings ratio of -1.15 and a beta of 0.42. The stock has a 50 day simple moving average of $1.38 and a 200 day simple moving average of $1.82.

Institutional Trading of Lotus Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake 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 worth $27,000 after purchasing an additional 4,848 shares in the last quarter. Jane Street Group LLC lifted its stake in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after buying an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Lotus Technology during the second quarter valued at $34,000. 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.