Lotus Technology (NASDAQ:LOT) Shares Gap Up – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up before the market opened on Thursday . The stock had previously closed at $0.8899, but opened at $0.9614. Lotus Technology shares last traded at $0.9440, with a volume of 3,216 shares trading hands.

Analyst Ratings Changes

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

Lotus Technology Trading Up 2.2%

The firm has a market cap of $609.99 million, a P/E ratio of -1.32 and a beta of 0.52. The business’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.17.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LOT. Jane Street Group LLC grew 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 valued at $27,000 after buying an additional 6,629 shares in the last quarter. Bank of America Corp DE lifted its stake 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 worth $27,000 after purchasing an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Lotus Technology during the second quarter valued at $34,000. Institutional investors 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.