Lotus Technology (NASDAQ:LOT) Trading Down 2.5% – Time to Sell?

Lotus Technology Inc. (NASDAQ:LOT) shares were down 2.5% during mid-day trading on Friday . The company traded as low as $3.39 and last traded at $3.44. Approximately 16,539 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 124,665 shares. The stock had previously closed at $3.53.

Lotus Technology Stock Up 3.4 %

The firm has a 50-day simple moving average of $4.17 and a 200 day simple moving average of $5.29. The stock has a market capitalization of $2.47 billion, a P/E ratio of -2.34 and a beta of 0.10. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.61 and a quick ratio of 0.46.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp purchased a new stake in shares of Lotus Technology Inc. (NASDAQ:LOT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,533 shares of the company’s stock, valued at approximately $58,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.