Lotus Technology (NASDAQ:LOT) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Lotus Technology (NASDAQ:LOT) issued its earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06, FiscalAI reports. The firm had revenue of $134.05 million for the quarter, compared to analysts’ expectations of $139.65 million.

Lotus Technology Stock Up 3.5%

LOT stock opened at $1.19 on Thursday. The stock’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.16. Lotus Technology has a 52-week low of $0.81 and a 52-week high of $2.28. The company has a market capitalization of $764.09 million, a PE ratio of -1.65 and a beta of 0.52.

Institutional Trading of Lotus Technology

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC raised its holdings in Lotus Technology by 64.1% in the first 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. Bank of America Corp DE grew its holdings in Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after acquiring an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Lotus Technology during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.