Lotus Technology (NASDAQ:LOT) Reaches New 1-Year Low – Time to Sell?

Lotus Technology Inc. (NASDAQ:LOT) shares hit a new 52-week low during trading on Saturday . The company traded as low as $2.73 and last traded at $2.73, with a volume of 97072 shares trading hands. The stock had previously closed at $2.85.

Lotus Technology Stock Down 4.2 %

The stock’s 50-day moving average price is $3.61 and its 200 day moving average price is $4.55. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -1.75 and a beta of 0.13.

Lotus Technology (NASDAQ:LOT) last announced its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) EPS for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Lotus Technology in the third quarter worth about $32,000. State Street Corp acquired a new position in Lotus Technology in the third quarter worth about $58,000. Merit Financial Group LLC acquired a new position in Lotus Technology in the fourth quarter worth about $46,000. Bleakley Financial Group LLC acquired a new position in Lotus Technology in the fourth quarter worth about $48,000. Finally, Drive Wealth Management LLC bought a new stake in Lotus Technology during the fourth quarter worth about $89,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.