Lotus Technology (NASDAQ:LOT) Stock Price Down 4.7% – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) fell 4.7% during trading on Friday . The company traded as low as $1.33 and last traded at $1.3250. 26,612 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 127,932 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

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

Lotus Technology Stock Down 2.5%

The company has a market capitalization of $919.02 million, a P/E ratio of -1.09 and a beta of 0.43. The business has a fifty day moving average price of $1.55 and a 200 day moving average price of $1.93.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Lotus Technology in the second quarter valued at $34,000. Jane Street Group LLC boosted 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 buying an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Lotus Technology by 178.8% in the fourth 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. Institutional investors and hedge funds 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.