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

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $1.41, but opened at $1.36. Lotus Technology shares last traded at $1.3790, with a volume of 5,295 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Lotus Technology Price Performance

The firm has a market cap of $963.10 million, a P/E ratio of -1.15 and a beta of 0.42. The company’s 50-day simple moving average is $1.37 and its 200 day simple moving average is $1.81.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its position in Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares during the period. XTX Topco Ltd bought a new position in shares of Lotus Technology during the 2nd quarter valued at approximately $34,000. Finally, Bank of America Corp DE raised its holdings 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 valued at $27,000 after buying an additional 4,848 shares during the period. 63.40% of the stock is owned by 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.