Lotus Technology (NASDAQ:LOT) Shares Gap Down – Time to Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped down prior to trading on Monday . The stock had previously closed at $1.49, but opened at $1.41. Lotus Technology shares last traded at $1.46, with a volume of 20,423 shares traded.

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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Lotus Technology Stock Down 6.2%

The stock has a market capitalization of $915.62 million, a PE ratio of -1.09 and a beta of 0.39. The stock’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.40.

Lotus Technology (NASDAQ:LOT) last posted its quarterly earnings results on Friday, April 10th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $163.34 million during the quarter, compared to analysts’ expectations of $153.86 million.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its holdings 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 valued at $27,000 after purchasing an additional 6,629 shares during the period. Bank of America Corp DE grew its stake in 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. Finally, XTX Topco Ltd purchased a new position in Lotus Technology during the 2nd quarter worth $34,000. 63.40% of the stock is 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.