Lotus Technology (NASDAQ:LOT) Stock Price Down 4.5% – What’s Next?

Shares of Lotus Technology Inc. (NASDAQ:LOT) dropped 4.5% during mid-day trading on Wednesday . The company traded as low as $4.00 and last traded at $4.00. Approximately 94,011 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 123,438 shares. The stock had previously closed at $4.19.

Lotus Technology Trading Down 4.1 %

The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 7.93. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -2.69 and a beta of 0.14. The business has a 50 day moving average price of $4.58 and a 200-day moving average price of $6.01.

Lotus Technology (NASDAQ:LOT) last posted its earnings results on Wednesday, August 28th. The company reported ($0.30) earnings per share (EPS) for the quarter. The firm had revenue of $225.03 million during the quarter.

Institutional Investors Weigh In On Lotus Technology

A hedge fund recently bought a new stake in Lotus Technology stock. State Street Corp acquired a new stake in shares of Lotus Technology Inc. (NASDAQ:LOT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,533 shares of the company’s stock, valued at approximately $58,000. 63.40% of the stock is owned by 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.