Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s Why

Shares of Lotus Technology Inc. (NASDAQ:LOT) gapped down prior to trading on Tuesday . The stock had previously closed at $1.36, but opened at $1.32. Lotus Technology shares last traded at $1.38, with a volume of 8,023 shares trading hands.

Lotus Technology Stock Down 3.4 %

The stock has a market cap of $889.88 million, a PE ratio of -0.84 and a beta of 0.28. The business has a 50 day moving average price of $1.88 and a 200 day moving average price of $3.24.

Hedge Funds Weigh In On Lotus Technology

Several institutional investors have recently made changes to their positions in the company. Mariner LLC acquired a new position in shares of Lotus Technology during the 4th quarter worth approximately $1,426,000. Tidal Investments LLC raised its position in Lotus Technology by 39.0% during the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock worth $401,000 after acquiring an additional 30,933 shares during the period. Townsquare Capital LLC purchased a new position in Lotus Technology during the fourth quarter valued at $236,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Lotus Technology in the fourth quarter valued at about $165,000. Finally, Savant Capital LLC acquired a new position in shares of Lotus Technology during the 4th quarter worth about $109,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.