Lobo EV Technologies (NASDAQ:LOBO) Shares Down 11.7% – Here’s Why

Lobo EV Technologies Ltd (NASDAQ:LOBO) was down 11.7% on Tuesday. The stock traded as low as $0.5775 and last traded at $0.6181. 2,803,347 shares changed hands during trading, a decline of 68% from the average daily volume of 8,794,686 shares. The stock had previously closed at $0.70.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Lobo EV Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Lobo EV Technologies Stock Down 4.4%

The company’s 50 day moving average price is $0.65 and its two-hundred day moving average price is $0.64.

Lobo EV Technologies (NASDAQ:LOBO) last posted its quarterly earnings data on Friday, September 18th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $7.29 million for the quarter.

About Lobo EV Technologies

Lobo EV Technologies Limited is an electric-vehicle company focused on the design, development, manufacture and sale of small electric vehicles. Through its operating subsidiaries in China, the company serves the growing market for lightweight and low-speed transportation products.

Lobo EV’s product portfolio includes electric tricycles, electric bicycles, electric scooters and other compact electric vehicles. Its products are intended for applications such as personal transportation, local delivery, cargo hauling and other short-distance mobility needs.