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

Shares of Lotus Technology Inc. (NASDAQ:LOT) saw an uptick in trading volume on Friday . 102,272 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 134,506 shares.The stock last traded at $1.71 and had previously closed at $1.81.

Lotus Technology Price Performance

The firm has a market capitalization of $1.09 billion, a P/E ratio of -1.04 and a beta of 0.14. The stock has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $4.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its position in shares of Lotus Technology by 39.0% during the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock worth $401,000 after purchasing an additional 30,933 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Lotus Technology by 178.8% in the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after purchasing an additional 4,848 shares during the period. Jane Street Group LLC bought a new position in Lotus Technology during the fourth quarter valued at $37,000. Marshall Wace LLP purchased a new stake in Lotus Technology in the fourth quarter worth $63,000. Finally, Mariner LLC bought a new stake in shares of Lotus Technology in the fourth quarter valued at $1,426,000. 63.40% of the stock is owned by 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.