Lotus Technology (NASDAQ:LOT) Shares Gap Down – Should You Sell?

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) gapped down before the market opened on Friday. The stock had previously closed at $0.8788, but opened at $0.84. Lotus Technology shares last traded at $0.9040, with a volume of 15,680 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lotus Technology in a research report on Friday, July 17th. One equities research 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 Stock Performance

The stock has a fifty day simple moving average of $1.00 and a two-hundred day simple moving average of $1.15. The stock has a market cap of $582.38 million, a PE ratio of -1.26 and a beta of 0.57.

Hedge Funds Weigh In On Lotus Technology

A hedge fund recently raised its position in Lotus Technology stock. Citadel Advisors LLC increased its holdings in Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT) by 146.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,517 shares of the company’s stock after acquiring an additional 62,630 shares during the quarter. Citadel Advisors LLC’s holdings in Lotus Technology were worth $123,000 as of its most recent filing with the SEC. 63.40% of the stock is owned by institutional investors and hedge funds.

About Lotus Technology

Lotus Technology Inc is a technology-focused luxury electric vehicle company associated with the Lotus automotive brand. The company develops, manufactures and sells battery-electric vehicles that combine performance-oriented engineering with advanced digital and driver-assistance technologies.

Its vehicle portfolio includes the Eletre electric hyper-SUV and the Emeya electric hyper-GT. Lotus Technology is also associated with the Evija, an all-electric hypercar, and supports the development of vehicle software, intelligent driving systems, digital cockpits and other connected-car technologies.

Lotus Technology operates as part of the broader Lotus and Geely automotive ecosystem, with activities spanning China and international markets, including Europe and other regions.