Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Should You Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw strong trading volume on Tuesday . 446,527 shares were traded during trading, an increase of 149% from the previous session’s volume of 178,971 shares.The stock last traded at $1.1380 and had previously closed at $1.15.

Analyst Upgrades and Downgrades

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

Lotus Technology Stock Performance

The stock’s fifty day moving average is $1.04 and its 200 day moving average is $1.16. The stock has a market cap of $661.35 million, a P/E ratio of -1.43 and a beta of 0.57.

Institutional Trading of Lotus Technology

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in 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 purchasing an additional 4,848 shares during the period. Jane Street Group LLC boosted its position in shares of 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 purchasing an additional 6,629 shares in the last quarter. XTX Topco Ltd purchased a new stake in Lotus Technology in the second quarter valued at about $34,000. Finally, Citadel Advisors LLC increased its holdings in shares of Lotus Technology by 146.0% during the second quarter. Citadel Advisors LLC now owns 105,517 shares of the company’s stock valued at $123,000 after acquiring an additional 62,630 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.