Lotus Technology (NASDAQ:LOT) Given "Sell (E+)" Rating at Weiss Ratings

Key Points

• Lotus Technology (NASDAQ:LOT) has been given a "sell (E+)" rating by Weiss Ratings, indicating a negative outlook for the stock.
• The company reported a quarterly loss of ($0.20) earnings per share and revenue of $125.50 million for the last quarter.
• Institutional investors now own 63.40% of Lotus Technology's stock, with significant increases in holdings from firms like Bank of America Corp and Jane Street Group LLC.

Lotus Technology (NASDAQ:LOT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Lotus Technology Stock Performance

LOT opened at $2.13 on Wednesday. Lotus Technology has a fifty-two week low of $1.06 and a fifty-two week high of $4.87. The company has a fifty day moving average of $2.05 and a two-hundred day moving average of $1.98. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -1.48 and a beta of 0.44.

Lotus Technology (NASDAQ:LOT - Get Free Report) last released its quarterly earnings data on Friday, August 29th. The company reported ($0.20) earnings per share for the quarter. The business had revenue of $125.50 million for the quarter.

Institutional Trading of Lotus Technology

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew 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. Jane Street Group LLC grew its position in shares of Lotus Technology by 64.1% in the first quarter. Jane Street Group LLC now owns 16,966 shares of the company's stock valued at $27,000 after purchasing an additional 6,629 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Lotus Technology in the second quarter valued at about $34,000. Institutional investors and hedge funds 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.

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