Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) saw unusually-high trading volume on Monday . Approximately 272,679 shares were traded during trading, an increase of 103% from the previous session’s volume of 134,117 shares.The stock last traded at $2.13 and had previously closed at $1.58.

Lotus Technology Price Performance

The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -1.40 and a beta of 0.14. The business has a fifty day moving average price of $2.45 and a two-hundred day moving average price of $3.67.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently bought and sold shares of LOT. JPMorgan Chase & Co. acquired a new stake in shares of Lotus Technology in the third quarter worth $32,000. Bank of America Corp DE grew 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 during the period. Jane Street Group LLC purchased a new position in shares of Lotus Technology during the 4th quarter valued at about $37,000. State Street Corp acquired a new position in shares of Lotus Technology in the 3rd quarter valued at about $58,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Lotus Technology in the fourth quarter worth about $46,000. 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.