Lotus Technology (NASDAQ:LOT) Shares Gap Up – Should You Buy?

Lotus Technology Inc. (NASDAQ:LOT) gapped up before the market opened on Tuesday . The stock had previously closed at $3.76, but opened at $3.89. Lotus Technology shares last traded at $3.83, with a volume of 1,059 shares traded.

Lotus Technology Trading Up 1.9 %

The company has a market capitalization of $2.59 billion, a PE ratio of -2.46 and a beta of 0.13. The company has a fifty day simple moving average of $4.04 and a 200-day simple moving average of $5.03. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 7.93.

Institutional Trading of Lotus Technology

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of Lotus Technology in the 3rd quarter valued at $402,000. State Street Corp acquired a new position in shares of Lotus Technology during the 3rd quarter worth about $58,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology during the 3rd quarter worth approximately $32,000. 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.