Lotus Technology (NASDAQ:LOT) Stock Price Down 8% – Here’s What Happened

Shares of Lotus Technology Inc. (NASDAQ:LOT) fell 8% during trading on Wednesday . The stock traded as low as $3.66 and last traded at $3.67. 77,541 shares changed hands during trading, a decline of 26% from the average session volume of 104,364 shares. The stock had previously closed at $3.99.

Lotus Technology Trading Down 1.9 %

The firm’s 50 day moving average is $4.00 and its 200 day moving average is $4.99. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.61 and a quick ratio of 0.46. The company has a market capitalization of $2.40 billion, a PE ratio of -2.27 and a beta of 0.13.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in Lotus Technology during the third quarter valued at $402,000. State Street Corp bought a new position in shares of Lotus Technology in the 3rd quarter worth about $58,000. Finally, JPMorgan Chase & Co. purchased a new position in Lotus Technology during the 3rd quarter valued at about $32,000. 63.40% of the stock is currently owned by 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.