Lotus Technology (NASDAQ:LOT) Shares Up 8.4% – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) was up 8.4% during mid-day trading on Tuesday . The company traded as high as $1.1850 and last traded at $1.2140. Approximately 47,859 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 160,976 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Lotus Technology Trading Up 7.1%

The firm has a market cap of $813.89 million, a PE ratio of -0.97 and a beta of 0.42. The business’s 50-day simple moving average is $1.26 and its 200 day simple moving average is $1.56.

Hedge Funds Weigh In On Lotus Technology

Large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its position in Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after acquiring an additional 9,605 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of 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 purchasing an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Lotus Technology by 178.8% during 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 in 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.