Lotus Technology (NASDAQ:LOT) Shares Gap Down - Here's Why

Key Points

• Lotus Technology Inc. shares gapped down, opening at $1.94 after closing at $2.02, and last traded at $1.98 with 16,648 shares exchanged.
• The company's recent quarterly report showed an earnings per share of ($0.20) and revenue of $125.50 million.
• Institutional investors own 63.40% of Lotus Technology, with notable increases in stakes from firms like Tidal Investments LLC and Bank of America Corp DE.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.02, but opened at $1.94. Lotus Technology shares last traded at $1.98, with a volume of 16,648 shares traded.

Lotus Technology Stock Performance

The business has a fifty day moving average of $2.12 and a 200-day moving average of $1.95. The company has a market capitalization of $1.35 billion, a P/E ratio of -1.38 and a beta of 0.44.

Lotus Technology (NASDAQ:LOT - Get Free Report) last issued 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 during the quarter.

Hedge Funds Weigh In On Lotus Technology

Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in Lotus Technology by 39.0% during the 4th 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 in the last quarter. Jane Street Group LLC boosted its holdings in shares of Lotus Technology by 64.1% in the 1st quarter. Jane Street Group LLC now owns 16,966 shares of the company's stock worth $27,000 after buying an additional 6,629 shares during the last quarter. XTX Topco Ltd bought a new position in Lotus Technology during the second quarter valued at about $34,000. Finally, Bank of America Corp DE increased its holdings in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company's stock worth $27,000 after buying an additional 4,848 shares during the last quarter. 63.40% of the stock is currently owned by institutional investors.

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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