Lotus Technology (NASDAQ:LOT) Trading 6% Higher – Should You Buy?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price shot up 6% during trading on Friday . The stock traded as high as $1.55 and last traded at $1.59. 36,759 shares changed hands during trading, a decline of 72% from the average session volume of 130,515 shares. The stock had previously closed at $1.50.

Lotus Technology Stock Performance

The stock’s fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $3.72. The stock has a market capitalization of $1.08 billion, a P/E ratio of -1.02 and a beta of 0.14.

Institutional Trading of Lotus Technology

Several institutional investors have recently modified their holdings of the business. State Street Corp acquired a new position in shares of Lotus Technology in the third quarter worth approximately $58,000. Tidal Investments LLC acquired a new position in shares of Lotus Technology in the 3rd quarter worth approximately $402,000. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology in the 3rd quarter valued at $32,000. Merit Financial Group LLC acquired a new stake in shares of Lotus Technology during the fourth quarter worth $46,000. Finally, Drive Wealth Management LLC bought a new position in Lotus Technology during the fourth quarter worth $89,000. Institutional investors own 63.40% of the company’s stock.

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.