Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Still a Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw strong trading volume on Monday . Approximately 382,829 shares were traded during trading, an increase of 132% from the previous session’s volume of 164,833 shares.The stock last traded at $1.1740 and had previously closed at $1.24.

Wall Street Analyst Weigh In

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

Lotus Technology Price Performance

The business has a 50 day simple moving average of $1.04 and a 200 day simple moving average of $1.16. The stock has a market cap of $770.51 million, a PE ratio of -1.67 and a beta of 0.52.

Hedge Funds Weigh In On Lotus Technology

Several large investors have recently made changes to their positions in LOT. XTX Topco Ltd grew its stake in shares of 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 acquiring an additional 9,605 shares during the last quarter. Jane Street Group LLC raised its stake in 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 purchasing an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings 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 purchasing an additional 4,848 shares during the period. 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.