Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares saw strong trading volume on Monday . Approximately 191,658 shares changed hands during trading, an increase of 40% from the previous session’s volume of 137,207 shares.The stock last traded at $1.14 and had previously closed at $1.11.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Lotus Technology Stock Performance

The business’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $1.16. The company has a market capitalization of $738.40 million, a price-to-earnings ratio of -1.60 and a beta of 0.52.

Institutional Investors Weigh In On Lotus Technology

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd increased its position in shares of Lotus Technology by 21.3% during the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after purchasing an additional 9,605 shares during the period. Jane Street Group LLC lifted its holdings in shares of Lotus Technology by 64.1% in the first 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 during the period. Finally, Bank of America Corp DE boosted its stake 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 valued at $27,000 after buying 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.