Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-high trading volume on Tuesday . Approximately 76,113 shares were traded during mid-day trading, an increase of 33% from the previous session’s volume of 57,365 shares.The stock last traded at $1.4350 and had previously closed at $1.50.

Analysts Set New Price Targets

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

Lotus Technology Price Performance

The firm has a market capitalization of $966.50 million, a price-to-earnings ratio of -1.16 and a beta of 0.42. The firm has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.86.

Institutional Trading of Lotus Technology

Several hedge funds have recently added to or reduced their stakes in LOT. Bank of America Corp DE grew its holdings in 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 acquiring an additional 4,848 shares in the last quarter. Jane Street Group LLC raised its holdings 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 valued at $27,000 after purchasing an additional 6,629 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Lotus Technology during the 2nd quarter worth $34,000. 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.