Lotus Technology Inc. (NASDAQ:LOT) Sees Significant Increase in Short Interest

Lotus Technology Inc. (NASDAQ:LOT) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 281,700 shares, an increase of 113.2% from the February 28th total of 132,100 shares. Based on an average daily volume of 200,100 shares, the short-interest ratio is presently 1.4 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Trading of Lotus Technology

Several large investors have recently modified their holdings of LOT. Tidal Investments LLC raised its position in shares of Lotus Technology by 39.0% in the 4th quarter. Tidal Investments LLC now owns 110,270 shares of the company’s stock valued at $401,000 after purchasing an additional 30,933 shares in the last quarter. Bank of America Corp DE raised its holdings in Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock valued at $27,000 after acquiring an additional 4,848 shares in the last quarter. Jane Street Group LLC bought a new position in Lotus Technology during the 4th quarter valued at $37,000. Marshall Wace LLP acquired a new position in Lotus Technology during the 4th quarter worth $63,000. Finally, Mariner LLC bought a new stake in shares of Lotus Technology in the 4th quarter worth about $1,426,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

Lotus Technology Price Performance

LOT traded down $0.05 during trading hours on Friday, reaching $1.80. 114,378 shares of the stock traded hands, compared to its average volume of 147,517. Lotus Technology has a fifty-two week low of $1.42 and a fifty-two week high of $13.85. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -1.15 and a beta of 0.14. The firm’s fifty day simple moving average is $2.31 and its two-hundred day simple moving average is $3.59.

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.