Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-high trading volume on Tuesday . Approximately 1,360,245 shares traded hands during trading, an increase of 1,002% from the previous session’s volume of 123,442 shares.The stock last traded at $1.2050 and had previously closed at $1.23.

Analyst Upgrades and Downgrades

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

Lotus Technology Trading Down 3.7%

The company has a market cap of $803.72 million, a P/E ratio of -1.65 and a beta of 0.49. The stock’s 50-day moving average price is $1.21 and its 200-day moving average price is $1.34.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $163.34 million for the quarter, compared to the consensus estimate of $153.86 million. On average, research analysts anticipate that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lotus Technology

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its position in Lotus Technology by 21.3% in the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock valued at $77,000 after acquiring an additional 9,605 shares in the last quarter. Jane Street Group LLC lifted 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 acquiring an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. Institutional investors 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.