Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Still a Buy?

Lotus Technology Inc. (NASDAQ:LOT) saw strong trading volume on Monday . 272,679 shares changed hands during trading, an increase of 103% from the previous session’s volume of 134,117 shares.The stock last traded at $2.13 and had previously closed at $1.58.

Lotus Technology Trading Up 38.5 %

The firm’s fifty day moving average price is $2.45 and its two-hundred day moving average price is $3.67. The stock has a market capitalization of $1.48 billion, a PE ratio of -1.40 and a beta of 0.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in shares of Lotus Technology by 39.0% during the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after acquiring an additional 30,933 shares during the period. Bank of America Corp DE grew its holdings in Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after purchasing an additional 4,848 shares during the period. Jane Street Group LLC purchased a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $37,000. Marshall Wace LLP purchased a new stake in shares of Lotus Technology in the fourth quarter valued at approximately $63,000. Finally, Mariner LLC acquired a new position in shares of Lotus Technology during the 4th quarter worth approximately $1,426,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

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.