Lotus Technology (NASDAQ:LOT) Reaches New 52-Week Low – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) hit a new 52-week low during trading on Wednesday . The stock traded as low as $1.80 and last traded at $1.86, with a volume of 119018 shares trading hands. The stock had previously closed at $1.97.

Lotus Technology Price Performance

The firm has a market capitalization of $1.26 billion, a PE ratio of -1.19 and a beta of 0.09. The firm has a fifty day moving average price of $3.06 and a 200 day moving average price of $4.06.

Institutional Investors Weigh In On Lotus Technology

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in Lotus Technology by 178.8% during the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after buying an additional 4,848 shares during the period. JPMorgan Chase & Co. acquired a new position in Lotus Technology during the third quarter valued at $32,000. Jane Street Group LLC acquired a new position in Lotus Technology during the fourth quarter valued at $37,000. Merit Financial Group LLC acquired a new position in Lotus Technology during the fourth quarter valued at $46,000. Finally, Bleakley Financial Group LLC acquired a new position in Lotus Technology during the fourth quarter valued at $48,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.