Lotus Technology (NASDAQ:LOT) Stock Price Down 1.9% - Here's Why

Key Points

• Lotus Technology shares saw a decrease of 1.9%, trading as low as $1.93 and closing at $2.04, with trading volume exceeding the average by 144%.
• The company reported a loss of ($0.28) earnings per share with revenues of $92.82 million for the last quarter.
• Institutional investors own 63.4% of Lotus Technology, with significant stakes increased by various hedge funds recently.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report) shares dropped 1.9% during mid-day trading on Thursday . The company traded as low as $1.93 and last traded at $2.04. Approximately 195,880 shares traded hands during mid-day trading, an increase of 144% from the average daily volume of 80,300 shares. The stock had previously closed at $2.08.

Lotus Technology Trading Down 0.5%

The stock has a fifty day moving average price of $2.19 and a 200-day moving average price of $2.04. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -1.32 and a beta of 0.44.

Lotus Technology (NASDAQ:LOT - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported ($0.28) earnings per share for the quarter. The company had revenue of $92.82 million during the quarter.

Institutional Investors Weigh In On Lotus Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Orion Portfolio Solutions LLC bought a new position in Lotus Technology in the 4th quarter valued at $165,000. Townsquare Capital LLC bought a new position in Lotus Technology in the 4th quarter valued at $236,000. Mariner LLC bought a new position in Lotus Technology in the 4th quarter valued at $1,426,000. Marshall Wace LLP bought a new position in Lotus Technology in the 4th quarter valued at $63,000. Finally, Jane Street Group LLC bought a new position in Lotus Technology in the 4th quarter valued at $37,000. 63.40% of the stock is 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.