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

Shares of Lotus Technology Inc. (NASDAQ:LOT) gapped up prior to trading on Wednesday . The stock had previously closed at $2.49, but opened at $2.61. Lotus Technology shares last traded at $2.55, with a volume of 10,675 shares traded.

Lotus Technology Stock Performance

The business’s 50 day moving average is $3.40 and its 200 day moving average is $4.37. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -1.67 and a beta of 0.09.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) EPS for the quarter.

Institutional Trading of Lotus Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp purchased a new stake in Lotus Technology during the third quarter worth $58,000. Tidal Investments LLC acquired a new stake in Lotus Technology during the third quarter valued at $402,000. JPMorgan Chase & Co. acquired a new stake in Lotus Technology during the third quarter valued at $32,000. Merit Financial Group LLC acquired a new stake in Lotus Technology during the fourth quarter valued at $46,000. Finally, Drive Wealth Management LLC acquired a new stake in Lotus Technology during the fourth quarter valued at $89,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.