Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Here’s What Happened

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-strong trading volume on Tuesday . Approximately 154,847 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 127,131 shares.The stock last traded at $1.0450 and had previously closed at $1.09.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lotus Technology currently has an average rating of “Sell”.

Lotus Technology Trading Up 1.0%

The company’s fifty day simple moving average is $1.04 and its 200 day simple moving average is $1.16. The firm has a market capitalization of $667.77 million, a P/E ratio of -1.44 and a beta of 0.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake 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 purchasing an additional 4,848 shares during the period. Jane Street Group LLC increased its stake in shares of Lotus Technology by 64.1% in the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Lotus Technology by 21.3% in the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after acquiring an additional 9,605 shares in the last quarter. Hedge funds and other 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.