Lotus Technology (NASDAQ:LOT) Hits New 12-Month Low – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $3.21 and last traded at $3.24, with a volume of 22765 shares traded. The stock had previously closed at $3.41.

Lotus Technology Stock Performance

The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -2.31 and a beta of 0.10. The company has a 50-day moving average of $4.26 and a 200-day moving average of $5.44. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 7.93.

Institutional Trading of Lotus Technology

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

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.