Lotus Technology (NASDAQ:LOT) Stock Price Down 4.5% – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price was down 4.5% during mid-day trading on Thursday . The company traded as low as $1.1950 and last traded at $1.1750. Approximately 16,458 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 128,031 shares. The stock had previously closed at $1.23.

Analyst Ratings Changes

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

Lotus Technology Trading Down 4.8%

The stock has a market capitalization of $751.89 million, a price-to-earnings ratio of -1.64 and a beta of 0.49. The stock’s 50 day moving average is $1.25 and its 200 day moving average is $1.25.

Lotus Technology (NASDAQ:LOT) last announced its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. On average, sell-side analysts anticipate that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current year.

Institutional Investors Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently bought and sold shares of LOT. Jane Street Group LLC raised its holdings in shares of Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares during the last quarter. 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 worth $27,000 after purchasing an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Lotus Technology during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

Lotus Technology Company Profile

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.