Lotus Technology (NASDAQ:LOT) Trading Down 5.9% – Should You Sell?

Shares of Lotus Technology Inc. (NASDAQ:LOT) were down 5.9% during trading on Wednesday . The stock traded as low as $2.85 and last traded at $2.84. Approximately 127,413 shares changed hands during trading, a decline of 6% from the average daily volume of 135,248 shares. The stock had previously closed at $3.02.

Lotus Technology Stock Down 0.8 %

The firm has a market capitalization of $1.74 billion, a PE ratio of -1.65 and a beta of 0.09. The company’s 50-day simple moving average is $3.22 and its 200 day simple moving average is $4.22.

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

Hedge Funds Weigh In On Lotus Technology

Several hedge funds and other institutional investors have recently modified their holdings of LOT. Mariner LLC purchased a new position in shares of Lotus Technology in the 4th quarter valued at approximately $1,426,000. Tidal Investments LLC purchased a new position in shares of Lotus Technology in the 3rd quarter valued at approximately $402,000. Townsquare Capital LLC acquired a new position in Lotus Technology in the 4th quarter worth approximately $236,000. Orion Portfolio Solutions LLC acquired a new position in Lotus Technology in the 4th quarter worth approximately $165,000. Finally, Savant Capital LLC acquired a new position in Lotus Technology in the 4th quarter worth approximately $109,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.