Lotus Technology (NASDAQ:LOT) Reaches New 1-Year Low – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) shares hit a new 52-week low on Saturday . The stock traded as low as $3.05 and last traded at $3.19, with a volume of 114815 shares trading hands. The stock had previously closed at $3.21.

Lotus Technology Trading Down 0.6 %

The company has a market cap of $2.16 billion, a price-to-earnings ratio of -2.04 and a beta of 0.13. The business’s 50 day moving average price is $3.76 and its 200-day moving average price is $4.73.

Lotus Technology (NASDAQ:LOT) last issued its quarterly earnings data on Thursday, November 21st. The company reported ($0.30) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lotus Technology

Several institutional investors and hedge funds have recently modified their holdings of LOT. Tidal Investments LLC bought a new stake in Lotus Technology in the 3rd quarter valued at about $402,000. Drive Wealth Management LLC acquired a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $89,000. Merit Financial Group LLC bought a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $46,000. State Street Corp acquired a new stake in Lotus Technology during the third quarter worth approximately $58,000. Finally, JPMorgan Chase & Co. bought a new position in Lotus Technology during the 3rd quarter worth $32,000. 63.40% of the stock is currently 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.