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

Key Points

• Shares gapped down at the open from $1.49 to $1.41 and were last trading around $1.46 on light volume (20,423 shares).
• Analysts are bearish—Weiss Ratings reiterated a Sell and the stock's consensus rating on MarketBeat is currently "Sell".
• Fundamentals mixed: Lotus reported a loss per share of $0.14 that still beat estimates (-$0.16) and revenue of $163.34M vs. $153.86M expected, but it carries a negative PE (-1.17), ~ $986.8M market cap, and ~63.4% institutional ownership.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $1.49, but opened at $1.41. Lotus Technology shares last traded at $1.46, with a volume of 20,423 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Lotus Technology in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of "Sell".

Lotus Technology Price Performance

The stock has a market capitalization of $986.84 million, a PE ratio of -1.17 and a beta of 0.39. The stock has a 50 day moving average of $1.15 and a two-hundred day moving average of $1.41.

Lotus Technology (NASDAQ:LOT - Get Free Report) last posted its quarterly earnings results on Friday, April 10th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. The business had revenue of $163.34 million during the quarter, compared to analysts' expectations of $153.86 million.

Institutional Trading of Lotus Technology

A number of institutional investors have recently modified their holdings of LOT. XTX Topco Ltd acquired a new position in Lotus Technology during the second quarter worth $34,000. Jane Street Group LLC raised its holdings in Lotus Technology by 64.1% during the first 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. Finally, Bank of America Corp DE raised 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 purchasing an additional 4,848 shares during the last quarter. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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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