Lotus Technology (NASDAQ:LOT) Stock Price Down 3.9% – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT)’s share price was down 3.9% on Friday . The stock traded as low as $3.13 and last traded at $3.09. Approximately 12,647 shares changed hands during trading, a decline of 90% from the average daily volume of 123,507 shares. The stock had previously closed at $3.21.

Lotus Technology Stock Down 0.6 %

The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $4.71. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -2.04 and a beta of 0.13.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings results on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOT. Tidal Investments LLC bought a new position in shares of Lotus Technology in the third quarter worth about $402,000. Drive Wealth Management LLC bought a new position in Lotus Technology in the 4th quarter worth approximately $89,000. Merit Financial Group LLC acquired a new position in Lotus Technology during the 4th quarter worth $46,000. State Street Corp bought a new position in Lotus Technology in the 3rd quarter valued at $58,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Lotus Technology in the 3rd quarter valued at $32,000. Institutional investors and hedge funds 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.