Lotus Technology (NASDAQ:LOT) Shares Down 5.9% – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT)’s share price was down 5.9% on Wednesday . The company traded as low as $2.85 and last traded at $2.84. Approximately 127,413 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 135,248 shares. The stock had previously closed at $3.02.

Lotus Technology Stock Down 9.4 %

The stock has a market capitalization of $1.85 billion, a P/E ratio of -1.73 and a beta of 0.09. The business’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $4.28.

Lotus Technology (NASDAQ:LOT) last released its quarterly earnings results on Thursday, November 21st. The company reported ($0.30) earnings per share for the quarter.

Institutional Trading of Lotus Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after purchasing an additional 4,848 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology in the third quarter valued at approximately $32,000. Jane Street Group LLC bought a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $37,000. State Street Corp bought a new stake in shares of Lotus Technology in the third quarter valued at approximately $58,000. Finally, Merit Financial Group LLC bought a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $46,000. 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.