Lotus Technology (NASDAQ:LOT) Trading 6.4% Higher – Here’s Why

Lotus Technology Inc. (NASDAQ:LOTGet Free Report) shares were up 6.4% during mid-day trading on Friday . The stock traded as high as $3.86 and last traded at $3.84. Approximately 17,658 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 94,379 shares. The stock had previously closed at $3.61.

Lotus Technology Trading Down 1.9 %

The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $2.40 billion, a P/E ratio of -2.27 and a beta of 0.13. The business has a 50 day moving average of $3.99 and a 200-day moving average of $4.95.

Institutional Investors Weigh In On Lotus Technology

Several large investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in Lotus Technology in the 3rd quarter valued at $402,000. State Street Corp bought a new stake in shares of Lotus Technology in the third quarter valued at about $58,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Lotus Technology during the third quarter worth about $32,000. Institutional investors own 63.40% of the company’s stock.

Lotus Technology Company Profile

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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.

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