Lotus Technology (NASDAQ:LOT) Shares Down 4.9% – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT)’s share price fell 4.9% during mid-day trading on Friday . The stock traded as low as $3.39 and last traded at $3.37. 35,901 shares traded hands during trading, a decline of 71% from the average session volume of 123,154 shares. The stock had previously closed at $3.54.

Lotus Technology Stock Down 2.0 %

The stock has a market cap of $2.35 billion, a PE ratio of -2.22 and a beta of 0.13. The firm’s fifty day moving average price is $3.88 and its 200 day moving average price is $4.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology in the third quarter worth about $32,000. Merit Financial Group LLC bought a new stake in Lotus Technology in the 4th quarter worth approximately $46,000. State Street Corp bought a new stake in Lotus Technology in the 3rd quarter worth approximately $58,000. Finally, Tidal Investments LLC purchased a new stake in shares of Lotus Technology during the 3rd quarter worth approximately $402,000. Institutional investors 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.