Lotus Technology (NASDAQ:LOT) Trading 8.5% Higher – Still a Buy?

Lotus Technology Inc. (NASDAQ:LOT) shares were up 8.5% during trading on Tuesday . The company traded as high as $2.54 and last traded at $2.61. Approximately 8,007 shares traded hands during trading, a decline of 94% from the average daily volume of 135,853 shares. The stock had previously closed at $2.40.

Lotus Technology Stock Performance

The stock has a market capitalization of $1.61 billion, a P/E ratio of -1.52 and a beta of 0.10. The stock has a 50 day moving average of $3.20 and a 200 day moving average of $4.17.

Institutional Trading of Lotus Technology

Several hedge funds have recently bought and sold shares of the company. Mariner LLC bought a new stake in shares of Lotus Technology during the fourth quarter valued at approximately $1,426,000. Tidal Investments LLC raised its holdings in Lotus Technology by 39.0% during the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock worth $401,000 after buying an additional 30,933 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Lotus Technology in the 4th quarter valued at approximately $236,000. Orion Portfolio Solutions LLC acquired a new position in Lotus Technology in the 4th quarter worth approximately $165,000. Finally, Savant Capital LLC purchased a new position in Lotus Technology during the 4th quarter worth approximately $109,000. 63.40% of the stock is currently owned by 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.