Lotus Technology (NASDAQ:LOT) Shares Up 6% - Still a Buy?

Shares of Lotus Technology Inc. (NASDAQ:LOT - Get Free Report) rose 6% on Friday . The company traded as high as $1.55 and last traded at $1.59. Approximately 36,759 shares were traded during trading, a decline of 72% from the average daily volume of 130,515 shares. The stock had previously closed at $1.50.

Lotus Technology Price Performance

The firm has a 50 day moving average of $2.35 and a 200-day moving average of $3.61. The stock has a market capitalization of $1.25 billion, a P/E ratio of -1.19 and a beta of 0.14.

Institutional Trading of Lotus Technology

A number of institutional investors and hedge funds have recently modified their holdings of LOT. JPMorgan Chase & Co. acquired a new stake in Lotus Technology during the third quarter worth $32,000. Bank of America Corp DE lifted its holdings in shares of Lotus Technology by 178.8% during the 4th quarter. Bank of America Corp DE now owns 7,560 shares of the company's stock worth $27,000 after acquiring an additional 4,848 shares during the period. Jane Street Group LLC acquired a new stake in shares of Lotus Technology during the 4th quarter valued at about $37,000. State Street Corp bought a new stake in Lotus Technology in the third quarter valued at about $58,000. Finally, Merit Financial Group LLC acquired a new position in Lotus Technology in the fourth quarter worth about $46,000. 63.40% of the stock is currently owned by 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.