Lotus Technology (NASDAQ:LOT) Trading Down 4.5% – Here’s Why

Shares of Lotus Technology Inc. (NASDAQ:LOT) fell 4.5% during mid-day trading on Wednesday . The company traded as low as $4.00 and last traded at $4.00. 94,011 shares changed hands during trading, a decline of 24% from the average session volume of 123,438 shares. The stock had previously closed at $4.19.

Lotus Technology Stock Down 4.5 %

The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -2.56 and a beta of 0.14. The firm has a fifty day moving average price of $4.54 and a 200 day moving average price of $5.98.

Lotus Technology (NASDAQ:LOT) last released its earnings results on Wednesday, August 28th. The company reported ($0.30) EPS for the quarter. The business had revenue of $225.03 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lotus Technology stock. Tidal Investments LLC purchased a new position in shares of Lotus Technology Inc. (NASDAQ:LOT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 79,337 shares of the company’s stock, valued at approximately $402,000. 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.