Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume After Earnings Beat

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-strong trading volume on Friday following a stronger than expected earnings report. Approximately 208,265 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 132,513 shares.The stock last traded at $1.47 and had previously closed at $1.46.

The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Lotus Technology in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Lotus Technology presently has a consensus rating of “Sell”.

Institutional Trading of Lotus Technology

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its position in shares of Lotus Technology by 21.3% in the fourth quarter. XTX Topco Ltd now owns 54,711 shares of the company’s stock worth $77,000 after purchasing an additional 9,605 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after purchasing an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Lotus Technology by 178.8% in 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 in the last quarter. Institutional investors own 63.40% of the company’s stock.

Lotus Technology Price Performance

The stock’s 50-day moving average price is $1.14 and its 200 day moving average price is $1.43. The firm has a market cap of $960.39 million, a P/E ratio of -1.15 and a beta of 0.39.

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.