Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares saw unusually-strong trading volume on Tuesday . 356,360 shares changed hands during trading, an increase of 100% from the previous session’s volume of 178,055 shares.The stock last traded at $1.4250 and had previously closed at $1.46.

Analysts Set New Price Targets

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

Lotus Technology Stock Down 0.7%

The stock has a market cap of $983.45 million, a P/E ratio of -1.17 and a beta of 0.42. The firm’s 50-day moving average is $1.37 and its two-hundred day moving average is $1.80.

Institutional Investors Weigh In On Lotus Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its position 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 during the last quarter. XTX Topco Ltd acquired a new stake in shares of Lotus Technology in the second quarter worth about $34,000. Finally, Jane Street Group LLC boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Lotus Technology

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.