Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Here’s Why

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) shares saw strong trading volume on Monday . Approximately 191,658 shares changed hands during mid-day trading, an increase of 40% from the previous session’s volume of 137,207 shares.The stock last traded at $1.14 and had previously closed at $1.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Lotus Technology presently has an average rating of “Sell”.

Lotus Technology Stock Performance

The firm has a market capitalization of $747.39 million, a P/E ratio of -1.59 and a beta of 0.52. The firm has a 50 day moving average price of $1.04 and a two-hundred day moving average price of $1.16.

Hedge Funds Weigh In On Lotus Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after buying an additional 4,848 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the period. Finally, XTX Topco Ltd increased its position in shares of Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after acquiring an additional 9,605 shares in the last quarter. 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.