Lotus Technology (NASDAQ:LOT) Shares Gap Down – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $1.17, but opened at $1.08. Lotus Technology shares last traded at $1.19, with a volume of 36,591 shares.

Lotus Technology Stock Performance

The stock has a market capitalization of $799.13 million, a price-to-earnings ratio of -0.76 and a beta of 0.28. The business’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $3.30.

Institutional Trading of Lotus Technology

Several hedge funds have recently added to or reduced their stakes in the business. Mariner LLC acquired a new position in shares of Lotus Technology during the fourth quarter valued at approximately $1,426,000. Tidal Investments LLC boosted its stake in Lotus Technology by 39.0% during the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after purchasing an additional 30,933 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Lotus Technology during the 4th quarter valued at $236,000. Orion Portfolio Solutions LLC bought a new stake in shares of Lotus Technology in the 4th quarter worth $165,000. Finally, Savant Capital LLC acquired a new stake in shares of Lotus Technology in the fourth quarter valued at $109,000. 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.