Lotus Technology (NASDAQ:LOT) Trading 8.1% Higher – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares rose 8.1% on Wednesday . The stock traded as high as $1.1893 and last traded at $1.2650. Approximately 8,351 shares changed hands during trading, a decline of 94% from the average daily volume of 134,307 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Lotus Technology has a consensus rating of “Sell”.

Lotus Technology Stock Up 1.7%

The company has a market cap of $764.09 million, a P/E ratio of -1.67 and a beta of 0.49. The company’s 50-day moving average is $1.30 and its two-hundred day moving average is $1.28.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings data on Friday, April 10th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $163.34 million for the quarter, compared to analysts’ expectations of $153.86 million. On average, analysts anticipate that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently modified their holdings of LOT. XTX Topco Ltd raised its stake in Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after purchasing an additional 9,605 shares in the last quarter. Jane Street Group LLC grew its stake in Lotus Technology by 64.1% in 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 in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Lotus Technology by 178.8% during 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. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.