Lotus Technology (NASDAQ:LOT) Trading Down 7.6% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) fell 7.6% on Monday . The stock traded as low as $1.24 and last traded at $1.28. 155,373 shares were traded during mid-day trading, an increase of 4% from the average session volume of 149,690 shares. The stock had previously closed at $1.39.

Lotus Technology Trading Down 19.1 %

The stock has a 50 day moving average of $2.10 and a 200-day moving average of $3.41. The stock has a market capitalization of $758.50 million, a P/E ratio of -0.72 and a beta of 0.28.

Institutional Trading of Lotus Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its stake 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 valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Lotus Technology in the third quarter worth approximately $32,000. Jane Street Group LLC purchased a new position in Lotus Technology during the 4th quarter worth $37,000. Merit Financial Group LLC bought a new stake in Lotus Technology during the 4th quarter valued at $46,000. Finally, Bleakley Financial Group LLC bought a new stake in Lotus Technology during the 4th quarter valued at $48,000. 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.