Lotus Technology (NASDAQ:LOT) Stock Price Up 9.5% – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price traded up 9.5% during trading on Tuesday . The company traded as high as $1.2282 and last traded at $1.27. 6,620 shares were traded during mid-day trading, a decline of 95% from the average session volume of 135,367 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Lotus Technology Trading Up 16.8%

The firm’s 50-day moving average is $1.21 and its 200-day moving average is $1.32. The firm has a market cap of $870.03 million, a price-to-earnings ratio of -1.89 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. Analysts forecast that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares in the last quarter. XTX Topco Ltd bought a new position in Lotus Technology during the 2nd quarter valued at $34,000. Finally, Jane Street Group LLC boosted its holdings in Lotus Technology by 64.1% during the 1st 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 last quarter. 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.