Lotus Technology (NASDAQ:LOT) Sets New 12-Month Low – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT) shares hit a new 52-week low on Thursday . The company traded as low as $2.20 and last traded at $2.22, with a volume of 105987 shares traded. The stock had previously closed at $2.38.

Lotus Technology Stock Down 6.7 %

The business’s 50 day simple moving average is $3.15 and its 200 day simple moving average is $4.14. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -1.42 and a beta of 0.10.

Hedge Funds Weigh In On Lotus Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mariner LLC acquired a new stake in shares of Lotus Technology during the fourth quarter worth $1,426,000. Tidal Investments LLC increased its position in Lotus Technology by 39.0% during the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock worth $401,000 after acquiring an additional 30,933 shares during the period. Townsquare Capital LLC acquired a new stake in Lotus Technology in the 4th quarter worth about $236,000. Orion Portfolio Solutions LLC bought a new stake in Lotus Technology in the 4th quarter valued at about $165,000. Finally, Savant Capital LLC bought a new stake in Lotus Technology in the 4th quarter valued at about $109,000. 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.