Lotus Technology (NASDAQ:LOT) Shares Gap Up – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $1.29, but opened at $1.35. Lotus Technology shares last traded at $1.3850, with a volume of 70,163 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lotus Technology presently has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The firm has a market capitalization of $908.85 million, a P/E ratio of -1.08 and a beta of 0.42. The firm has a 50-day moving average of $1.37 and a 200-day moving average of $1.77.

Institutional Trading of Lotus Technology

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 4,848 shares during the last quarter. Jane Street Group LLC boosted its position in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after purchasing an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Lotus Technology during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.