Lotus Technology (NASDAQ:LOT) Trading 9.5% Higher – Time to Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s stock price was up 9.5% during trading on Tuesday . The stock traded as high as $1.2282 and last traded at $1.27. Approximately 6,620 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 135,367 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

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

Lotus Technology Trading Up 16.8%

The business’s fifty day moving average is $1.21 and its 200 day moving average is $1.32. The company has a market cap of $870.03 million, a P/E ratio of -1.89 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT) last issued 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 business had revenue of $163.34 million for the quarter, compared to the consensus estimate of $153.86 million. As a group, research analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Lotus Technology

Several hedge funds and other institutional investors have recently modified their holdings of LOT. Bank of America Corp DE boosted its holdings in Lotus Technology by 178.8% in the 4th 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 during the period. XTX Topco Ltd bought a new stake in shares of Lotus Technology during the 2nd quarter valued at about $34,000. Finally, Jane Street Group LLC lifted its position in Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock valued at $27,000 after purchasing an additional 6,629 shares during the last quarter. 63.40% of the stock is currently owned by 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.