Lotus Technology (NASDAQ:LOT) Trading Down 8.4% – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price traded down 8.4% on Wednesday . The stock traded as low as $1.40 and last traded at $1.3550. 80,886 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 141,722 shares. The stock had previously closed at $1.48.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Lotus Technology Trading Down 3.7%

The firm has a market capitalization of $914.98 million, a price-to-earnings ratio of -1.98 and a beta of 0.49. The company has a fifty day moving average price of $1.22 and a two-hundred day moving average price of $1.31.

Lotus Technology (NASDAQ:LOT) last issued its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. As a group, equities research analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current year.

Institutional Trading of Lotus Technology

Several institutional investors have recently made changes to their positions in LOT. XTX Topco Ltd purchased a new stake in shares of Lotus Technology during the 2nd quarter valued at approximately $34,000. Jane Street Group LLC raised its position 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 valued at $27,000 after buying an additional 6,629 shares during the period. Finally, Bank of America Corp DE raised 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 valued at $27,000 after buying an additional 4,848 shares during the period. 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.