Lotus Technology (NASDAQ:LOT) Stock Price Down 2.5% – Here’s Why

Shares of Lotus Technology Inc. (NASDAQ:LOT) fell 2.5% on Friday . The stock traded as low as $3.39 and last traded at $3.44. 16,539 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 124,665 shares. The stock had previously closed at $3.53.

Lotus Technology Stock Performance

The company’s 50 day simple moving average is $4.19 and its 200 day simple moving average is $5.37. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -2.36 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 Investors Weigh In On Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. Tidal Investments LLC acquired a new position in shares of Lotus Technology Inc. (NASDAQ:LOT) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 79,337 shares of the company’s stock, valued at approximately $402,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.