Lotus Technology (NASDAQ:LOT) Stock Price Up 6.1% – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares shot up 6.1% during mid-day trading on Tuesday . The company traded as high as $1.2099 and last traded at $1.22. Approximately 203,966 shares were traded during trading, an increase of 20% from the average daily volume of 169,828 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

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

Lotus Technology Stock Performance

The firm has a market capitalization of $769.87 million, a P/E ratio of -1.67 and a beta of 0.52. The stock’s 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.16.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. 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 worth $27,000 after buying an additional 4,848 shares during the period. XTX Topco Ltd purchased a new position in shares of Lotus Technology during the second quarter valued at $34,000. Finally, Jane Street Group LLC raised its holdings in shares of 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 acquiring an additional 6,629 shares in the last quarter. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

About Lotus Technology

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.