Lotus Technology (NASDAQ:LOT) Shares Down 6.5% - Should You Sell?

Key Points

• Lotus Technology's stock price declined by 6.5% to $2.04, with trading volume significantly lower than its average, dropping by 94% to just over 10,000 shares.
• The company reported earnings of ($0.28) per share with a revenue of $92.82 million for the last quarter, indicating potential financial challenges ahead.
• Institutional investors own 63.40% of Lotus Technology's stock, with several hedge funds increasing their holdings in the last quarter, suggesting ongoing interest in the company despite recent stock performance.

Lotus Technology Inc. Sponsored ADR (NASDAQ:LOT - Get Free Report) shares were down 6.5% during mid-day trading on Tuesday . The company traded as low as $2.12 and last traded at $2.04. Approximately 10,095 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 155,938 shares. The stock had previously closed at $2.18.

Lotus Technology Stock Down 5.9%

The company has a market cap of $1.29 billion, a PE ratio of -1.23 and a beta of 0.44. The business's fifty day moving average is $2.20 and its 200-day moving average is $2.10.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake 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 valued at $27,000 after purchasing an additional 4,848 shares in the last quarter. Jane Street Group LLC lifted its stake 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. Marshall Wace LLP bought a new stake in shares of Lotus Technology in the 4th quarter valued at approximately $63,000. Tidal Investments LLC lifted its stake 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, Orion Portfolio Solutions LLC purchased a new stake in shares of Lotus Technology in the fourth quarter valued at $165,000. 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.