Lotus Technology (NASDAQ:LOT) Shares Up 6.4% – Here’s Why

Lotus Technology Inc. (NASDAQ:LOTGet Free Report) shares rose 6.4% during mid-day trading on Friday . The stock traded as high as $3.86 and last traded at $3.84. Approximately 17,658 shares were traded during trading, a decline of 81% from the average daily volume of 94,379 shares. The stock had previously closed at $3.61.

Lotus Technology Price Performance

The firm has a market capitalization of $2.38 billion, a P/E ratio of -2.25 and a beta of 0.13. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 7.93. The firm has a 50 day moving average price of $4.00 and a 200-day moving average price of $4.99.

Institutional Trading of Lotus Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology in the third quarter valued at approximately $32,000. Tidal Investments LLC purchased a new stake in shares of Lotus Technology in the 3rd quarter worth $402,000. Finally, State Street Corp bought a new position in shares of Lotus Technology during the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

Lotus Technology Company Profile

(Get Free Report)

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.

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