Lotus Technology (NASDAQ:LOT) Shares Gap Down – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $1.17, but opened at $1.08. Lotus Technology shares last traded at $1.19, with a volume of 36,591 shares traded.

Lotus Technology Stock Down 3.8 %

The stock has a market capitalization of $761.89 million, a price-to-earnings ratio of -0.71 and a beta of 0.28. The business’s 50-day moving average is $2.03 and its two-hundred day moving average is $3.37.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOT. JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology in the 3rd quarter valued at approximately $32,000. Bank of America Corp DE increased 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 worth $27,000 after acquiring an additional 4,848 shares during the last quarter. Jane Street Group LLC purchased a new stake in Lotus Technology in the fourth quarter valued at $37,000. State Street Corp purchased a new stake in Lotus Technology in the third quarter valued at $58,000. Finally, Merit Financial Group LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.