Lotus Technology (NASDAQ:LOT) Shares Gap Down - What's Next?

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)'s stock price gapped down before the market opened 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 trading hands.

Lotus Technology Stock Up 1.0%

The firm has a market capitalization of $1.36 billion, a PE ratio of -1.40 and a beta of 0.44. The company has a 50-day moving average of $2.11 and a 200 day 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 (EPS) for the quarter. The firm had revenue of $125.50 million during the quarter.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Lotus Technology during the 2nd quarter valued at $34,000. Jane Street Group LLC raised its position in Lotus Technology by 64.1% during 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 in the last quarter. Tidal Investments LLC lifted its stake in Lotus Technology by 39.0% during the fourth quarter. Tidal Investments LLC now owns 110,270 shares of the company's stock worth $401,000 after purchasing an additional 30,933 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Lotus Technology by 178.8% in 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 in the last quarter. Institutional investors 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.