Lotus Technology (NASDAQ:LOT) Shares Up 7.8% – Should You Buy?

Shares of Lotus Technology Inc. (NASDAQ:LOT) rose 7.8% during trading on Tuesday . The company traded as high as $2.84 and last traded at $2.75. Approximately 60,650 shares were traded during trading, a decline of 49% from the average daily volume of 119,055 shares. The stock had previously closed at $2.55.

Lotus Technology Stock Performance

The stock’s 50-day moving average price is $3.23 and its two-hundred day moving average price is $4.24. The stock has a market capitalization of $1.75 billion, a PE ratio of -1.66 and a beta of 0.09.

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

Institutional Trading of Lotus Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in shares of Lotus Technology during the third quarter valued at approximately $32,000. Bank of America Corp DE grew its stake in shares of 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 during the period. Jane Street Group LLC bought a new stake in Lotus Technology during the 4th quarter worth approximately $37,000. State Street Corp bought a new position in shares of Lotus Technology in the third quarter worth approximately $58,000. Finally, Merit Financial Group LLC bought a new position in Lotus Technology in the 4th quarter worth $46,000. Institutional investors own 63.40% of the company’s stock.

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.