Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-strong trading volume on Wednesday . Approximately 159,658 shares changed hands during trading, an increase of 22% from the previous session’s volume of 130,336 shares.The stock last traded at $1.54 and had previously closed at $1.50.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Lotus Technology Stock Up 2.0%

The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.23 and a beta of 0.43. The company’s fifty day moving average is $1.72 and its two-hundred day moving average is $1.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOT. XTX Topco Ltd acquired a new stake in shares of Lotus Technology during the second quarter worth $34,000. Jane Street Group LLC boosted its holdings in Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Lotus Technology by 178.8% during 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. 63.40% of the stock is currently owned by 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.