Lotus Technology (NASDAQ:LOT) Trading Down 5.9% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price was down 5.9% on Wednesday . The company traded as low as $2.85 and last traded at $2.84. Approximately 127,413 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 135,248 shares. The stock had previously closed at $3.02.

Lotus Technology Stock Down 0.8 %

The stock’s 50 day moving average is $3.22 and its two-hundred day moving average is $4.22. The company has a market capitalization of $1.74 billion, a PE ratio of -1.65 and a beta of 0.09.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Institutional Trading of Lotus Technology

A number of hedge funds have recently added to or reduced their stakes in LOT. State Street Corp purchased a new stake in Lotus Technology in the third quarter worth about $58,000. Tidal Investments LLC purchased a new stake in shares of Lotus Technology during the third quarter valued at about $402,000. JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology during the third quarter valued at about $32,000. Merit Financial Group LLC purchased a new stake in shares of Lotus Technology during the fourth quarter valued at about $46,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Lotus Technology during the fourth quarter valued at about $89,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.