Lotus Technology (NASDAQ:LOT) Shares Up 4.6% - What's Next?

Key Points

• Lotus Technology Inc.'s shares increased by 4.6% during trading, closing at $2.04 after reaching a high of $2.06.
• The company reported a loss of ($0.20) per share and revenue of $125.50 million in its most recent quarterly earnings.
• Institutional investors now own 63.40% of Lotus Technology's stock, with significant increases in holdings from firms like Jane Street Group and Bank of America.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report) shot up 4.6% during trading on Tuesday . The stock traded as high as $2.06 and last traded at $2.04. 32,640 shares changed hands during trading, a decline of 77% from the average session volume of 141,118 shares. The stock had previously closed at $1.95.

Lotus Technology Trading Up 5.4%

The firm's fifty day simple moving average is $2.07 and its 200 day simple moving average is $1.96. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -1.43 and a beta of 0.44.

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

Hedge Funds Weigh In On Lotus Technology

Large investors have recently bought and sold shares of the company. Jane Street Group LLC raised its position in 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 buying an additional 6,629 shares during the last quarter. Bank of America Corp DE increased 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 valued at $27,000 after purchasing an additional 4,848 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Lotus Technology in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 63.40% of the company's stock.

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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