Lotus Technology (NASDAQ:LOT) Shares Up 4.3% – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares shot up 4.3% during mid-day trading on Wednesday . The company traded as high as $1.2180 and last traded at $1.20. Approximately 234,480 shares changed hands during mid-day trading, an increase of 58% from the average session volume of 148,305 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

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

Lotus Technology Stock Up 3.4%

The firm has a fifty day moving average price of $1.03 and a two-hundred day moving average price of $1.16. The stock has a market capitalization of $763.45 million, a P/E ratio of -1.65 and a beta of 0.52.

Institutional Trading of Lotus Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd raised its holdings in Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after buying an additional 9,605 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Lotus Technology by 64.1% during the first 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 last quarter. Finally, Bank of America Corp DE increased its position 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 valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. 63.40% of the stock is currently owned by institutional investors.

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.