Lotus Technology (NASDAQ:LOT) Reaches New 1-Year Low – What’s Next?

Shares of Lotus Technology Inc. (NASDAQ:LOT) reached a new 52-week low on Saturday . The stock traded as low as $2.73 and last traded at $2.73, with a volume of 97072 shares changing hands. The stock had previously closed at $2.85.

Lotus Technology Trading Down 4.2 %

The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -1.75 and a beta of 0.13. The stock has a fifty day moving average price of $3.61 and a 200-day moving average price of $4.59.

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

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new position in shares of Lotus Technology in the third quarter valued at about $32,000. State Street Corp acquired a new stake in Lotus Technology in the 3rd quarter valued at about $58,000. Merit Financial Group LLC bought a new position in shares of Lotus Technology in the fourth quarter worth about $46,000. Bleakley Financial Group LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth approximately $48,000. Finally, Drive Wealth Management LLC bought a new stake in shares of Lotus Technology during the fourth quarter valued at approximately $89,000. 63.40% of the stock is currently 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.