Lotus Technology (NASDAQ:LOT) Shares Down 3.4% - Should You Sell?

Key Points

• Lotus Technology Inc. shares fell by 3.4% during mid-day trading, with a last price of $2.15, reflecting a significant decline in trading volume compared to its average.
• The company reported a loss of $0.20 per share in its latest quarterly earnings, with revenue of $125.50 million.
• Institutional investors hold 63.40% of Lotus Technology's stock, with several large firms increasing their stakes in the company recently.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report) shares traded down 3.4% during mid-day trading on Tuesday . The stock traded as low as $2.13 and last traded at $2.15. 25,682 shares traded hands during trading, a decline of 82% from the average session volume of 142,909 shares. The stock had previously closed at $2.22.

Lotus Technology Stock Down 5.9%

The company has a market cap of $1.42 billion, a PE ratio of -1.45 and a beta of 0.44. The stock has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $1.94.

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

Institutional Investors Weigh In On Lotus Technology

A number of large investors have recently bought and sold shares of LOT. 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 purchased a new stake in shares of Lotus Technology in the fourth quarter valued at $37,000. XTX Topco Ltd acquired a new position in Lotus Technology in the second quarter valued at $34,000. Finally, Tidal Investments LLC grew its position in Lotus Technology by 39.0% during the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company's stock valued at $401,000 after acquiring an additional 30,933 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.