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

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped up prior to trading on Friday . The stock had previously closed at $0.9072, but opened at $0.9998. Lotus Technology shares last traded at $0.9480, with a volume of 2,608 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lotus Technology in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Lotus Technology Price Performance

The stock has a market capitalization of $561.19 million, a price-to-earnings ratio of -1.21 and a beta of 0.49. The company has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.22.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd raised its holdings 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 valued at $77,000 after buying an additional 9,605 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Lotus Technology by 64.1% during the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after buying an additional 6,629 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares during the period. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.