Lotus Technology (NASDAQ:LOT) Reaches New 1-Year Low – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.42 and last traded at $1.46, with a volume of 68107 shares traded. The stock had previously closed at $1.58.

Lotus Technology Stock Performance

The business’s fifty day moving average is $2.14 and its 200-day moving average is $3.46. The firm has a market cap of $937.97 million, a P/E ratio of -0.89 and a beta of 0.28.

Institutional Investors Weigh In On Lotus Technology

Several institutional investors and hedge funds have recently made changes to their positions in LOT. Bank of America Corp DE lifted its holdings in Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after buying an additional 4,848 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Lotus Technology during the 3rd quarter worth approximately $32,000. Jane Street Group LLC bought a new stake in shares of Lotus Technology in the 4th quarter valued at $37,000. Merit Financial Group LLC bought a new position in Lotus Technology during the fourth quarter worth $46,000. Finally, Bleakley Financial Group LLC acquired a new stake in Lotus Technology in the fourth quarter worth $48,000. Institutional investors and hedge funds 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.