Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Here’s Why

Shares of Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) saw unusually-strong trading volume on Monday . Approximately 191,658 shares changed hands during mid-day trading, an increase of 40% from the previous session’s volume of 137,207 shares.The stock last traded at $1.14 and had previously closed at $1.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, Lotus Technology has a consensus rating of “Sell”.

Lotus Technology Stock Up 4.9%

The stock has a market capitalization of $747.39 million, a price-to-earnings ratio of -1.59 and a beta of 0.52. The business has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.16.

Institutional Trading of Lotus Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd boosted its stake in 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 in the last quarter. Jane Street Group LLC raised its position in Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company’s stock worth $27,000 after acquiring an additional 6,629 shares in the last quarter. Finally, Bank of America Corp DE raised its position 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 acquiring an additional 4,848 shares in the last quarter. Institutional investors 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.