Lotus Technology (NASDAQ:LOT) Shares Down 4.9% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) shares fell 4.9% on Friday . The company traded as low as $3.39 and last traded at $3.37. 35,901 shares changed hands during trading, a decline of 71% from the average session volume of 123,154 shares. The stock had previously closed at $3.54.

Lotus Technology Trading Down 0.4 %

The stock’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $4.86. The firm has a market capitalization of $2.39 billion, a P/E ratio of -2.24 and a beta of 0.13.

Institutional Trading of Lotus Technology

Several hedge funds have recently added to or reduced their stakes in LOT. Merit Financial Group LLC purchased a new stake in Lotus Technology during the fourth quarter valued at about $46,000. JPMorgan Chase & Co. bought a new position in shares of Lotus Technology during the 3rd quarter valued at about $32,000. Tidal Investments LLC bought a new position in Lotus Technology during the third quarter valued at approximately $402,000. Finally, State Street Corp bought a new position in shares of Lotus Technology during the 3rd quarter valued at $58,000. 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.