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Lotus Technology (NASDAQ:LOT) Shares Down 2.5% - Here's Why

Lotus Technology logo with Auto/Tires/Trucks background

Lotus Technology Inc. (NASDAQ:LOT - Get Free Report)'s share price traded down 2.5% during trading on Friday . The company traded as low as $3.39 and last traded at $3.44. 16,539 shares traded hands during trading, a decline of 87% from the average session volume of 124,665 shares. The stock had previously closed at $3.53.

Lotus Technology Price Performance

The stock has a market cap of $2.47 billion, a PE ratio of -2.34 and a beta of 0.10. The stock's fifty day moving average is $4.19 and its 200-day moving average is $5.37. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.61 and a quick ratio of 0.46.

Institutional Inflows and Outflows

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

Lotus Technology Company Profile

(Get Free Report)

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.

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