Lotus Technology (NASDAQ:LOT) Shares Gap Down – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $1.10, but opened at $1.0550. Lotus Technology shares last traded at $1.1290, with a volume of 29,799 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Lotus Technology Trading Up 4.9%

The company’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.26. The stock has a market capitalization of $740.97 million, a P/E ratio of -1.60 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings results on Friday, April 10th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $163.34 million during the quarter, compared to analyst estimates of $153.86 million. Sell-side analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LOT. XTX Topco Ltd grew its stake in shares of Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after purchasing an additional 9,605 shares in the last quarter. Jane Street Group LLC grew its position in 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 buying an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE increased its stake 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. 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.