Lotus Technology (NASDAQ:LOT) Shares Gap Up – Should You Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up before the market opened on Wednesday . The stock had previously closed at $1.1850, but opened at $1.2550. Lotus Technology shares last traded at $1.21, with a volume of 6,251 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Lotus Technology presently has an average rating of “Sell”.

Lotus Technology Stock Performance

The stock has a market capitalization of $776.93 million, a price-to-earnings ratio of -1.68 and a beta of 0.49. The company has a fifty day simple moving average of $1.31 and a two-hundred day simple moving average of $1.27.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $163.34 million during the quarter, compared to analyst estimates of $153.86 million. As a group, equities analysts anticipate that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current year.

Institutional Investors Weigh In On Lotus Technology

A number of large investors have recently bought and sold shares of the company. XTX Topco Ltd grew its stake in Lotus Technology by 21.3% during 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 in the last quarter. Jane Street Group LLC raised its position in 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 purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE raised its position in 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 purchasing an additional 4,848 shares in the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.