Lotus Technology (NASDAQ:LOT) Shares Gap Up – Should You Buy?

Lotus Technology Inc. (NASDAQ:LOT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.76, but opened at $3.89. Lotus Technology shares last traded at $3.83, with a volume of 1,059 shares changing hands.

Lotus Technology Stock Performance

The stock has a market cap of $2.59 billion, a PE ratio of -2.46 and a beta of 0.13. The firm’s 50-day moving average is $4.04 and its 200 day moving average is $5.03. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61.

Institutional Trading of Lotus Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOT. JPMorgan Chase & Co. purchased a new position in Lotus Technology in the 3rd quarter valued at $32,000. State Street Corp acquired a new position in shares of Lotus Technology during the third quarter worth about $58,000. Finally, Tidal Investments LLC acquired a new stake in Lotus Technology in the third quarter valued at about $402,000. 63.40% of the stock is owned by hedge funds and other institutional investors.

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.