Lotus Technology (NASDAQ:LOT) Shares Down 8.2% - Should You Sell?

Key Points

• Shares fell sharply — Lotus stock dropped about 8.2% intraday (traded as low as $1.28, last at $1.1940) while volume plunged ~98% below its average, indicating thin trading.
• Street sentiment is negative — the consensus rating is "Sell" (Weiss Ratings reiterated a "sell (e+)"), and analysts expect FY EPS of about -$0.71 despite the company slightly beating quarterly EPS and revenue estimates.
• Significant institutional ownership with modest recent buys — institutions own ~63.4% of the shares, and hedge funds like Jane Street, Bank of America and XTX made small net purchases in recent quarters.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report)'s share price was down 8.2% on Monday . The company traded as low as $1.28 and last traded at $1.1940. Approximately 2,724 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 123,171 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Lotus Technology in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

Lotus Technology Stock Down 6.5%

The business's 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.34. The firm has a market cap of $824.06 million, a price-to-earnings ratio of -1.69 and a beta of 0.49.

Lotus Technology (NASDAQ:LOT - Get Free Report) last issued its quarterly earnings data on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. The firm had revenue of $163.34 million during the quarter, compared to analyst estimates of $153.86 million. On average, analysts expect that Lotus Technology Inc. Sponsored ADR will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of Lotus Technology by 64.1% during the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company's stock worth $27,000 after purchasing an additional 6,629 shares during the last quarter. Bank of America Corp DE raised its position in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company's stock worth $27,000 after purchasing an additional 4,848 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Lotus Technology during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 63.40% of the company's stock.

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.

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