Lotus Technology (NASDAQ:LOT) Stock Price Down 1.5% – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price was down 1.5% during trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30. Approximately 40,705 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 118,246 shares. The stock had previously closed at $1.32.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Lotus Technology has an average rating of “Sell”.

Lotus Technology Stock Down 1.5%

The company has a market cap of $834.72 million, a P/E ratio of -1.81 and a beta of 0.49. The business has a fifty day moving average price of $1.30 and a 200-day moving average price of $1.28.

Lotus Technology (NASDAQ:LOT) last posted its earnings results on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $163.34 million for the quarter, compared to analyst estimates of $153.86 million. As a group, research analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current year.

Institutional Investors Weigh In On Lotus Technology

A number of hedge funds and other institutional investors have recently modified their holdings of LOT. XTX Topco Ltd acquired a new stake in shares of Lotus Technology during the second quarter worth $34,000. Jane Street Group LLC lifted its holdings in shares of Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after purchasing an additional 4,848 shares during the period. Institutional investors and hedge funds 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.