Lotus Technology (NASDAQ:LOT) Stock Price Down 4.5% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price dropped 4.5% during trading on Wednesday . The company traded as low as $4.00 and last traded at $4.00. Approximately 94,011 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 123,438 shares. The stock had previously closed at $4.19.

Lotus Technology Stock Performance

The firm has a market cap of $2.72 billion, a PE ratio of -2.69 and a beta of 0.14. 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 stock has a 50-day moving average price of $4.58 and a 200 day moving average price of $6.01.

Lotus Technology (NASDAQ:LOT) last issued its earnings results on Wednesday, August 28th. The company reported ($0.30) earnings per share for the quarter. The company had revenue of $225.03 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp bought a new stake in Lotus Technology Inc. (NASDAQ:LOT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,533 shares of the company’s stock, valued at approximately $58,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.