Lotus Technology (NASDAQ:LOT) Shares Gap Up – Time to Buy?

Lotus Technology Inc. (NASDAQ:LOT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.49, but opened at $2.61. Lotus Technology shares last traded at $2.55, with a volume of 10,675 shares trading hands.

Lotus Technology Stock Up 6.7 %

The stock has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $4.36.

Lotus Technology (NASDAQ:LOT) last posted its earnings results on Thursday, November 21st. The company reported ($0.30) EPS for the quarter.

Hedge Funds Weigh In On Lotus Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in LOT. Mariner LLC purchased a new position in shares of Lotus Technology during the fourth quarter worth about $1,426,000. Tidal Investments LLC purchased a new position in shares of Lotus Technology during the third quarter worth about $402,000. Townsquare Capital LLC purchased a new position in shares of Lotus Technology during the fourth quarter worth about $236,000. Orion Portfolio Solutions LLC purchased a new position in shares of Lotus Technology during the fourth quarter worth about $165,000. Finally, Savant Capital LLC purchased a new stake in Lotus Technology in the 4th quarter valued at approximately $109,000. Hedge funds and other 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.