Lotus Technology (NASDAQ:LOT) Stock Price Up 6% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT)’s share price shot up 6% on Friday . The company traded as high as $1.55 and last traded at $1.59. 36,759 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 130,515 shares. The stock had previously closed at $1.50.

Lotus Technology Price Performance

The business’s fifty day moving average price is $2.49 and its 200-day moving average price is $3.72. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.02 and a beta of 0.14.

Institutional Trading of Lotus Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOT. Bank of America Corp DE grew its holdings in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology in the 3rd quarter worth $32,000. Jane Street Group LLC purchased a new stake in shares of Lotus Technology in the fourth quarter valued at about $37,000. State Street Corp bought a new position in shares of Lotus Technology during the third quarter valued at about $58,000. Finally, Merit Financial Group LLC bought a new stake in Lotus Technology in the 4th quarter worth about $46,000. 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.