Lotus Technology (NASDAQ:LOT) Hits New 1-Year Low – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT) reached a new 52-week low during trading on Monday . The company traded as low as $2.61 and last traded at $2.67, with a volume of 10205 shares changing hands. The stock had previously closed at $2.63.

Lotus Technology Price Performance

The company has a market capitalization of $1.75 billion, a PE ratio of -1.64 and a beta of 0.09. The company’s fifty day moving average is $3.40 and its 200-day moving average is $4.37.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Hedge Funds Weigh In On Lotus Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC purchased a new position in shares of Lotus Technology in the 3rd quarter valued at approximately $402,000. Savant Capital LLC purchased a new stake in Lotus Technology during the 4th quarter worth approximately $109,000. Drive Wealth Management LLC acquired a new position in Lotus Technology during the 4th quarter valued at approximately $89,000. Momentous Wealth Management Inc. acquired a new stake in shares of Lotus Technology during the fourth quarter worth $55,000. Finally, Blue Barn Wealth LLC purchased a new stake in shares of Lotus Technology during the fourth quarter valued at $53,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.