Lotus Technology (NASDAQ:LOT) Shares Gap Up – Still a Buy?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $0.8899, but opened at $0.9614. Lotus Technology shares last traded at $0.9440, with a volume of 3,216 shares traded.

Wall Street Analysts Forecast Growth

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

Lotus Technology Trading Up 2.2%

The company has a market capitalization of $609.99 million, a PE ratio of -1.32 and a beta of 0.52. The stock’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of Lotus Technology by 178.8% in the 4th 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 during the period. XTX Topco Ltd purchased a new position in Lotus Technology in the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC grew its holdings in Lotus Technology by 64.1% during 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. 63.40% of the stock is owned by institutional investors.

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.