Lotus Technology (NASDAQ:LOT) Trading 6% Higher – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT) was up 6% during trading on Friday . The company traded as high as $1.55 and last traded at $1.59. Approximately 36,759 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 130,515 shares. The stock had previously closed at $1.50.

Lotus Technology Stock Performance

The company’s 50-day simple moving average is $2.45 and its 200-day simple moving average is $3.68. The company has a market capitalization of $1.07 billion, a PE ratio of -1.01 and a beta of 0.14.

Institutional Trading of Lotus Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of Lotus Technology by 39.0% in the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after buying an additional 30,933 shares in the last quarter. 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 worth $27,000 after purchasing an additional 4,848 shares during the last quarter. Jane Street Group LLC bought a new position in Lotus Technology in the fourth quarter worth about $37,000. Marshall Wace LLP acquired a new position in Lotus Technology during the 4th quarter valued at approximately $63,000. Finally, Mariner LLC bought a new stake in Lotus Technology in the 4th quarter valued at about $1,426,000. Hedge funds and other 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.