Lotus Technology (NASDAQ:LOT) Trading Up 9.4% – Time to Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shot up 9.4% on Wednesday . The stock traded as high as $0.9296 and last traded at $0.9296. Approximately 7,743 shares traded hands during trading, a decline of 94% from the average daily volume of 122,684 shares. The stock had previously closed at $0.8499.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Lotus Technology Stock Up 7.5%

The company has a market cap of $611.27 million, a P/E ratio of -1.32 and a beta of 0.52. The firm has a fifty day moving average price of $1.10 and a 200 day moving average price of $1.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. Jane Street Group LLC raised its stake in shares of 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 acquiring an additional 6,629 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Lotus Technology by 21.3% during the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after purchasing an additional 9,605 shares in the last quarter. Institutional investors and hedge funds 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.