Lotus Technology (NASDAQ:LOT) Shares Up 9.2% – Time to Buy?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) traded up 9.2% during trading on Wednesday . The stock traded as high as $0.9756 and last traded at $0.9716. Approximately 191,482 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 123,901 shares. The stock had previously closed at $0.8899.

Wall Street Analyst Weigh In

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

Lotus Technology Stock Performance

The company has a market capitalization of $584.30 million, a PE ratio of -1.26 and a beta of 0.52. The stock’s fifty day simple moving average is $1.07 and its 200-day simple moving average is $1.17.

Institutional Investors Weigh In On Lotus Technology

Several hedge funds have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in Lotus Technology by 21.3% in the 4th quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after buying an additional 9,605 shares during the last quarter. Jane Street Group LLC increased its stake in shares of 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 acquiring an additional 6,629 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Lotus Technology by 178.8% during the 4th 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 during 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.