Lotus Technology (NASDAQ:LOT) Hits New 52-Week Low – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.15 and last traded at $3.23, with a volume of 51104 shares trading hands. The stock had previously closed at $3.34.

Lotus Technology Price Performance

The stock’s 50 day moving average is $3.92 and its 200-day moving average is $4.87. The company has a market capitalization of $2.40 billion, a P/E ratio of -2.27 and a beta of 0.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in shares of Lotus Technology during the third quarter valued at approximately $32,000. Merit Financial Group LLC purchased a new position in Lotus Technology during the fourth quarter valued at $46,000. State Street Corp purchased a new position in Lotus Technology during the third quarter valued at $58,000. Finally, Tidal Investments LLC bought a new stake in shares of Lotus Technology during the 3rd quarter valued at $402,000. Institutional investors own 63.40% of the company’s stock.

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.