Lotus Technology (NASDAQ:LOT) Reaches New 12-Month Low – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $0.81 and last traded at $0.85, with a volume of 48061 shares trading hands. The stock had previously closed at $0.8528.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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 data from MarketBeat, the stock has an average rating of “Sell”.

Lotus Technology Stock Performance

The firm has a 50 day simple moving average of $0.99 and a two-hundred day simple moving average of $1.13. The stock has a market cap of $482.40 million, a P/E ratio of -1.04 and a beta of 0.63.

Institutional Investors Weigh In On Lotus Technology

An institutional investor recently raised its position in Lotus Technology stock. Citadel Advisors LLC raised its stake in shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) by 146.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,517 shares of the company’s stock after buying an additional 62,630 shares during the period. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 as of its most recent SEC filing. 63.40% of the stock is currently owned by institutional investors.

About Lotus Technology

Lotus Technology Inc is a luxury electric vehicle company affiliated with the Lotus brand. The company focuses on the research, development, design, manufacturing and sale of battery-electric vehicles, combining Lotus’ performance-oriented engineering heritage with connected-vehicle technologies and modern vehicle platforms.

Its product portfolio includes the Eletre electric hyper-SUV, the Emeya electric four-door hyper-GT and the Evija electric hypercar. Lotus Technology also develops vehicle software, intelligent driving and other digital services intended to support the ownership and operation of its electric vehicles.

Lotus traces its origins to the British sports-car company founded by Colin Chapman in 1952, while Lotus Technology was established to lead the brand’s transition toward electrification.