Lotus Technology (NASDAQ:LOT) Trading Down 4.5% – Should You Sell?

Shares of Lotus Technology Inc. (NASDAQ:LOT) were down 4.5% on Tuesday . The stock traded as low as $2.08 and last traded at $2.04. Approximately 43,707 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 158,667 shares. The stock had previously closed at $2.13.

Lotus Technology Price Performance

The stock has a fifty day simple moving average of $1.68 and a two-hundred day simple moving average of $2.66. The firm has a market capitalization of $1.36 billion, a P/E ratio of -1.28 and a beta of 0.27.

Lotus Technology (NASDAQ:LOT) last posted its earnings results on Tuesday, April 22nd. The company reported ($0.66) EPS for the quarter. The firm had revenue of $271.53 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake 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 valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology in the third quarter valued at about $32,000. Jane Street Group LLC lifted its position in shares of Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares in the last quarter. Merit Financial Group LLC purchased a new position in Lotus Technology during the fourth quarter worth about $46,000. Finally, Bleakley Financial Group LLC bought a new stake in Lotus Technology in the 4th quarter worth about $48,000. 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.