Lotus Technology (NASDAQ:LOT) Trading Down 4.9% – Time to Sell?

Shares of Lotus Technology Inc. (NASDAQ:LOT) fell 4.9% during mid-day trading on Friday . The company traded as low as $3.39 and last traded at $3.37. 35,901 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 123,154 shares. The stock had previously closed at $3.54.

Lotus Technology Price Performance

The company has a 50 day moving average of $3.91 and a 200-day moving average of $4.86. The company has a market capitalization of $2.39 billion, a P/E ratio of -2.24 and a beta of 0.13.

Hedge Funds Weigh In On Lotus Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in Lotus Technology during the third quarter worth about $32,000. State Street Corp bought a new stake in shares of Lotus Technology in the 3rd quarter worth approximately $58,000. Merit Financial Group LLC purchased a new stake in shares of Lotus Technology in the 4th quarter worth approximately $46,000. Finally, Tidal Investments LLC bought a new position in Lotus Technology during the 3rd quarter valued at approximately $402,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.