Lotus Technology (NASDAQ:LOT) Trading Down 4.5% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) shares fell 4.5% during trading on Wednesday . The stock traded as low as $4.00 and last traded at $4.00. 94,011 shares traded hands during trading, a decline of 24% from the average session volume of 123,438 shares. The stock had previously closed at $4.19.

Lotus Technology Stock Down 4.5 %

The business has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $5.98. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -2.56 and a beta of 0.14. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.30) earnings per share for the quarter. The company had revenue of $225.03 million during the quarter.

Hedge Funds Weigh In On Lotus Technology

An institutional investor recently bought a new position in Lotus Technology stock. State Street Corp purchased a new position in shares of Lotus Technology Inc. (NASDAQ:LOT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,533 shares of the company’s stock, valued at approximately $58,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.