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

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped up prior to trading on Tuesday . The stock had previously closed at $1.07, but opened at $1.18. Lotus Technology shares last traded at $1.1030, with a volume of 14,299 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Lotus Technology Trading Up 2.8%

The stock has a market capitalization of $746.07 million, a price-to-earnings ratio of -0.89 and a beta of 0.42. The firm has a 50-day moving average of $1.20 and a 200 day moving average of $1.49.

Institutional Trading of Lotus Technology

Several large investors have recently modified their holdings of the business. XTX Topco Ltd raised its stake in shares of Lotus Technology by 21.3% during the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after buying an additional 9,605 shares during the last quarter. Jane Street Group LLC grew its holdings 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 valued at $27,000 after acquiring an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE raised 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 worth $27,000 after purchasing an additional 4,848 shares in the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.