Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s What Happened

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $1.10, but opened at $1.0550. Lotus Technology shares last traded at $1.1290, with a volume of 29,799 shares trading hands.

Analysts Set New Price Targets

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

Lotus Technology Stock Up 4.9%

The firm has a market capitalization of $740.97 million, a price-to-earnings ratio of -1.60 and a beta of 0.49. The business has a 50-day moving average of $1.27 and a two-hundred day moving average of $1.26.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings results 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 firm had revenue of $163.34 million for the quarter, compared to the consensus estimate of $153.86 million. Equities analysts predict that Lotus Technology Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Trading of Lotus Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd raised its position 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 acquiring an additional 9,605 shares during the last quarter. Jane Street Group LLC increased its stake 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 during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of 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 acquiring an additional 4,848 shares during the last quarter. 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.