Lotus Technology (NASDAQ:LOT) Trading 9.5% Higher – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) was up 9.5% during mid-day trading on Tuesday . The company traded as high as $1.2282 and last traded at $1.27. Approximately 6,620 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 135,367 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Lotus Technology Price Performance

The company has a market capitalization of $898.93 million, a PE ratio of -1.94 and a beta of 0.49. The stock’s 50 day simple moving average is $1.23 and its 200-day simple moving average is $1.31.

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

Hedge Funds Weigh In On Lotus Technology

Several institutional investors have recently modified their holdings of LOT. Bank of America Corp DE raised its stake in shares of Lotus Technology by 178.8% in the fourth 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. XTX Topco Ltd acquired a new position in Lotus Technology during the 2nd quarter worth $34,000. Finally, Jane Street Group LLC increased its holdings in Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after purchasing an additional 6,629 shares during the period. Institutional investors and hedge funds 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.