Lotus Technology (NASDAQ:LOT) Shares Gap Up – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) gapped up before the market opened on Monday . The stock had previously closed at $1.63, but opened at $1.69. Lotus Technology shares last traded at $1.65, with a volume of 18,688 shares.

Lotus Technology Stock Down 1.3 %

The firm’s fifty day moving average is $2.84 and its 200-day moving average is $3.92. The stock has a market capitalization of $1.02 billion, a PE ratio of -0.96 and a beta of 0.14.

Institutional Trading of Lotus Technology

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake 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 worth $27,000 after purchasing an additional 4,848 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Lotus Technology in the 3rd quarter valued at $32,000. Jane Street Group LLC purchased a new position in shares of Lotus Technology in the 4th quarter valued at $37,000. State Street Corp purchased a new position in shares of Lotus Technology in the 3rd quarter valued at $58,000. Finally, Merit Financial Group LLC purchased a new position in shares of Lotus Technology in the 4th quarter valued at $46,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.