Lotus Technology (NASDAQ:LOT) Hits New 12-Month Low – What’s Next?

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) hit a new 52-week low on Friday . The stock traded as low as $1.00 and last traded at $1.0350, with a volume of 118120 shares traded. The stock had previously closed at $1.08.

Analyst Ratings Changes

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

Lotus Technology Stock Performance

The firm’s fifty day moving average price is $1.27 and its 200 day moving average price is $1.26. The firm has a market cap of $706.94 million, a P/E ratio of -1.53 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $163.34 million for the quarter, compared to analysts’ expectations of $153.86 million. As a group, analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC raised its position in shares of Lotus Technology by 64.1% in the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares in the last quarter. Bank of America Corp DE boosted its position in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after purchasing an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Lotus Technology during the second quarter valued at about $34,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.