Lotus Technology (NASDAQ:LOT) Shares Gap Up - Should You Buy?

Key Points

• Lotus Technology's share price rose from $1.94 to $2.02 before the market opened on Friday, but last traded at $1.93, indicating a 1.5% decline shortly after opening.
• The company's recent earnings report revealed a loss of ($0.20) earnings per share with revenue of $125.50 million for the quarter, highlighting ongoing financial challenges.
• Institutional investors hold approximately 63.40% of Lotus Technology's stock, with notable increases in stakes by firms like Jane Street Group and Bank of America Corp DE.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $1.94, but opened at $2.02. Lotus Technology shares last traded at $1.93, with a volume of 17,429 shares.

Lotus Technology Trading Down 1.5%

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -1.33 and a beta of 0.44. The stock's fifty day simple moving average is $2.08 and its 200-day simple moving average is $1.95.

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

Institutional Investors Weigh In On Lotus Technology

A number of hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Lotus Technology during the 2nd quarter worth approximately $34,000. Jane Street Group LLC increased its position 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 valued at $27,000 after purchasing an additional 6,629 shares during the last quarter. Tidal Investments LLC increased its position in shares of Lotus Technology by 39.0% in the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company's stock valued at $401,000 after purchasing an additional 30,933 shares during the last quarter. Finally, Bank of America Corp DE increased its position 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 valued at $27,000 after purchasing an additional 4,848 shares during the last quarter. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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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