Lotus Technology (NASDAQ:LOT) Shares Gap Up – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up before the market opened on Tuesday . The stock had previously closed at $1.10, but opened at $1.18. Lotus Technology shares last traded at $1.10, with a volume of 11,885 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a research report on Thursday, January 22nd. One 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 Price Performance

The firm has a market capitalization of $752.85 million, a PE ratio of -0.90 and a beta of 0.42. The company has a fifty day moving average of $1.23 and a 200-day moving average of $1.53.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd increased 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 increased its stake in shares of Lotus Technology by 64.1% during 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 during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of 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 in the last quarter. Institutional investors 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.