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

Lotus Technology Inc. (NASDAQ:LOT) gapped up prior to trading on Tuesday . The stock had previously closed at $3.60, but opened at $3.85. Lotus Technology shares last traded at $3.73, with a volume of 10,906 shares traded.

Lotus Technology Trading Up 0.3 %

The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61. The firm has a market cap of $2.44 billion, a PE ratio of -2.31 and a beta of 0.10. The stock has a 50-day simple moving average of $4.07 and a two-hundred day simple moving average of $5.09.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LOT. State Street Corp purchased a new stake in Lotus Technology in the third quarter worth approximately $58,000. Tidal Investments LLC purchased a new stake in Lotus Technology during the 3rd quarter valued at $402,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Lotus Technology during the 3rd quarter valued at $32,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.