Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT) gapped down before the market opened on Thursday . The stock had previously closed at $3.91, but opened at $3.80. Lotus Technology shares last traded at $3.95, with a volume of 7,463 shares changing hands.

Lotus Technology Trading Up 3.2 %

The stock has a market cap of $2.82 billion, a P/E ratio of -2.67 and a beta of 0.10. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61. The stock’s fifty day moving average is $4.13 and its 200 day moving average is $5.20.

Institutional Investors Weigh In On Lotus Technology

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in shares of Lotus Technology during the 3rd quarter valued at approximately $32,000. State Street Corp purchased a new position in Lotus Technology during the third quarter worth $58,000. Finally, Tidal Investments LLC bought a new position in Lotus Technology during the third quarter valued at $402,000. 63.40% of the stock is owned by institutional investors.

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.