Lotus Technology (NASDAQ:LOT) Shares Gap Up – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up prior to trading on Tuesday . The stock had previously closed at $1.07, but opened at $1.18. Lotus Technology shares last traded at $1.1030, with a volume of 14,299 shares changing hands.

Wall Street Analyst Weigh In

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

Lotus Technology Stock Performance

The stock has a 50-day moving average of $1.20 and a 200 day moving average of $1.49. The firm has a market capitalization of $746.07 million, a P/E ratio of -0.89 and a beta of 0.42.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently modified their holdings of LOT. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 4,848 shares during the period. XTX Topco Ltd acquired a new position in shares of Lotus Technology in the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC raised its stake in shares of Lotus Technology by 64.1% in the 1st 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. 63.40% of the stock is owned by institutional investors.

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.