Lotus Technology (NASDAQ:LOT) Sees Unusually-High Trading Volume – Should You Buy?

Lotus Technology Inc. (NASDAQ:LOT) saw unusually-strong trading volume on Friday . Approximately 94,232 shares were traded during trading, a decline of 18% from the previous session’s volume of 114,852 shares.The stock last traded at $2.89 and had previously closed at $2.84.

Lotus Technology Stock Up 0.9 %

The firm has a market cap of $1.95 billion, a PE ratio of -1.85 and a beta of 0.13. The firm’s 50 day moving average is $3.64 and its 200-day moving average is $4.62.

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

Institutional Trading of Lotus Technology

A number of hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new position in shares of Lotus Technology during the 3rd quarter worth about $402,000. State Street Corp purchased a new position in Lotus Technology during the third quarter worth approximately $58,000. Merit Financial Group LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at $46,000. Drive Wealth Management LLC acquired a new position in shares of Lotus Technology in the 4th quarter valued at $89,000. Finally, Savant Capital LLC purchased a new stake in shares of Lotus Technology during the 4th quarter valued at $109,000. 63.40% of the stock is 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.