Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Time to Buy?

Lotus Technology Inc. (NASDAQ:LOT) saw unusually-strong trading volume on Friday . Approximately 74,042 shares traded hands during trading, a decline of 41% from the previous session’s volume of 126,041 shares.The stock last traded at $4.39 and had previously closed at $4.03.

Lotus Technology Price Performance

The business has a 50 day simple moving average of $4.12 and a two-hundred day simple moving average of $5.17. The firm has a market capitalization 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.

Institutional Trading of Lotus Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Lotus Technology during the 3rd quarter valued at about $32,000. State Street Corp bought a new position in Lotus Technology during the third quarter valued at approximately $58,000. Finally, Tidal Investments LLC purchased a new position in shares of Lotus Technology during the third quarter worth approximately $402,000. Hedge funds and other institutional investors 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.