Lotus Technology (NASDAQ:LOT) Sees Large Volume Increase – Time to Buy?

Shares of Lotus Technology Inc. (NASDAQ:LOT) saw an uptick in trading volume on Monday . 272,679 shares changed hands during mid-day trading, an increase of 103% from the previous session’s volume of 134,117 shares.The stock last traded at $2.13 and had previously closed at $1.58.

Lotus Technology Trading Up 1.0 %

The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -1.28 and a beta of 0.14. The firm’s 50 day simple moving average is $2.40 and its two-hundred day simple moving average is $3.63.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors have recently modified their holdings of the business. State Street Corp acquired a new position in Lotus Technology during the third quarter worth about $58,000. Tidal Investments LLC acquired a new stake in Lotus Technology in the third quarter valued at approximately $402,000. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology during the third quarter worth $32,000. Merit Financial Group LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth $46,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Lotus Technology during the 4th quarter valued at $89,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

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.