Lotus Technology (NASDAQ:LOT) Trading Up 3.1% – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price traded up 3.1% on Monday . The company traded as high as $1.38 and last traded at $1.35. 118,622 shares were traded during mid-day trading, a decline of 6% from the average session volume of 126,659 shares. The stock had previously closed at $1.31.

Analysts Set New Price Targets

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

Lotus Technology Trading Up 4.1%

The company’s 50-day moving average price is $1.47 and its two-hundred day moving average price is $1.89. The company has a market cap of $925.12 million, a P/E ratio of -1.10 and a beta of 0.43.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently modified their holdings of LOT. Jane Street Group LLC lifted its holdings in shares of Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares during the last quarter. 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 worth $27,000 after acquiring an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Lotus Technology during the second quarter valued at approximately $34,000. 63.40% of the stock is 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.