Drive Wealth Management LLC acquired a new stake in Lotus Technology Inc. (NASDAQ:LOT – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,768 shares of the company’s stock, valued at approximately $89,000.
Other hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Lotus Technology during the third quarter worth about $402,000. Merit Financial Group LLC purchased a new stake in shares of Lotus Technology during the fourth quarter worth about $46,000. State Street Corp purchased a new stake in shares of Lotus Technology during the third quarter worth about $58,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Lotus Technology during the third quarter worth about $32,000. 63.40% of the stock is owned by hedge funds and other institutional investors.
Lotus Technology Stock Performance
Shares of NASDAQ LOT opened at $2.97 on Wednesday. Lotus Technology Inc. has a 1 year low of $2.73 and a 1 year high of $17.99. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -1.90 and a beta of 0.13. The stock’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $4.64.
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.
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