Lotus Technology (NASDAQ:LOT) Trading Down 4.4% – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares dropped 4.4% during trading on Monday . The stock traded as low as $1.08 and last traded at $1.08. Approximately 34,885 shares traded hands during trading, a decline of 77% from the average daily volume of 153,874 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

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

Lotus Technology Trading Down 4.0%

The business has a 50-day moving average price of $1.24 and a 200 day moving average price of $1.54. The stock has a market capitalization of $735.89 million, a P/E ratio of -0.87 and a beta of 0.42.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently made changes to their positions in LOT. XTX Topco Ltd purchased a new position in shares of Lotus Technology in the 2nd quarter worth $34,000. Jane Street Group LLC raised its position 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 valued at $27,000 after buying an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares during the last quarter. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.