Lotus Technology (NASDAQ:LOT) Shares Gap Down – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $2.19, but opened at $2.13. Lotus Technology shares last traded at $2.03, with a volume of 105,928 shares.

Lotus Technology Stock Down 5.7 %

The business’s 50-day moving average is $2.43 and its 200-day moving average is $3.65. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -1.33 and a beta of 0.14.

Institutional Trading of Lotus Technology

Hedge funds have recently modified their holdings of the stock. Mariner LLC acquired a new position in Lotus Technology in the fourth quarter valued at approximately $1,426,000. Tidal Investments LLC acquired a new stake in Lotus Technology during the third quarter valued at $402,000. Townsquare Capital LLC purchased a new position in Lotus Technology in the fourth quarter valued at $236,000. Orion Portfolio Solutions LLC purchased a new position in Lotus Technology in the fourth quarter valued at $165,000. Finally, Savant Capital LLC purchased a new stake in shares of Lotus Technology during the 4th quarter worth about $109,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.