Lotus Technology (NASDAQ:LOT) Stock Price Down 6.6% – Time to Sell?

Shares of Lotus Technology Inc. (NASDAQ:LOT) fell 6.6% during mid-day trading on Wednesday . The company traded as low as $3.35 and last traded at $3.42. 53,810 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 124,636 shares. The stock had previously closed at $3.66.

Lotus Technology Trading Down 1.4 %

The business has a 50 day moving average price of $4.38 and a 200-day moving average price of $5.67. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -2.19 and a beta of 0.10. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 7.93.

Institutional Investors Weigh In On Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp bought a new position in shares of Lotus Technology Inc. (NASDAQ:LOT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,533 shares of the company’s stock, valued at approximately $58,000. 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.