Lotus Technology (NASDAQ:LOT) Stock Price Up 7.8% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) shares rose 7.8% on Tuesday . The company traded as high as $2.84 and last traded at $2.75. Approximately 60,650 shares traded hands during trading, a decline of 49% from the average daily volume of 119,055 shares. The stock had previously closed at $2.55.

Lotus Technology Trading Up 18.4 %

The business’s 50 day moving average price is $3.29 and its two-hundred day moving average price is $4.28. The stock has a market cap of $2.05 billion, a P/E ratio of -1.94 and a beta of 0.09.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LOT. Bank of America Corp DE lifted its position in Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares during the period. JPMorgan Chase & Co. purchased a new position in Lotus Technology during the 3rd quarter valued at about $32,000. Jane Street Group LLC purchased a new position in Lotus Technology during the 4th quarter valued at about $37,000. Merit Financial Group LLC purchased a new position in Lotus Technology during the 4th quarter valued at about $46,000. Finally, Bleakley Financial Group LLC purchased a new position in Lotus Technology during the 4th quarter valued at about $48,000. 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.