Lotus Technology (NASDAQ:LOT) Trading Up 8.4% – Time to Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) rose 8.4% on Tuesday . The company traded as high as $1.1850 and last traded at $1.2140. Approximately 47,859 shares were traded during trading, a decline of 70% from the average daily volume of 160,976 shares. The stock had previously closed at $1.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Lotus Technology Price Performance

The company has a market cap of $807.11 million, a price-to-earnings ratio of -0.96 and a beta of 0.42. The stock has a 50-day moving average price of $1.25 and a 200 day moving average price of $1.55.

Institutional Trading of Lotus Technology

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of Lotus Technology in the second quarter valued at approximately $34,000. Jane Street Group LLC raised its holdings in shares of Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares during the period. Finally, Bank of America Corp DE lifted its position in Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.