Lotus Technology (NASDAQ:LOT) Trading Down 4.9% – Time to Sell?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price fell 4.9% during mid-day trading on Friday . The stock traded as low as $3.39 and last traded at $3.37. 35,901 shares changed hands during trading, a decline of 71% from the average session volume of 123,154 shares. The stock had previously closed at $3.54.

Lotus Technology Stock Down 2.0 %

The company has a fifty day simple moving average of $3.88 and a 200-day simple moving average of $4.83. The firm has a market cap of $2.35 billion, a P/E ratio of -2.22 and a beta of 0.13.

Institutional Investors Weigh In On Lotus Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOT. Tidal Investments LLC purchased a new position in Lotus Technology during the third quarter valued at approximately $402,000. Merit Financial Group LLC purchased a new position in shares of Lotus Technology during the 4th quarter valued at $46,000. State Street Corp bought a new position in Lotus Technology in the 3rd quarter worth $58,000. Finally, JPMorgan Chase & Co. purchased a new stake in Lotus Technology in the 3rd quarter worth $32,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.