Lotus Technology (NASDAQ:LOT) Shares Gap Down – Should You Sell?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.61, but opened at $1.51. Lotus Technology shares last traded at $1.47, with a volume of 14,263 shares traded.

Lotus Technology Price Performance

The firm has a market capitalization of $1.03 billion, a PE ratio of -0.98 and a beta of 0.14. The firm has a 50-day simple moving average of $2.67 and a 200-day simple moving average of $3.81.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LOT. Bank of America Corp DE raised its stake in shares of Lotus Technology by 178.8% in the fourth quarter. Bank of America Corp DE now owns 7,560 shares of the company’s stock worth $27,000 after buying an additional 4,848 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Lotus Technology in the third quarter worth about $32,000. Jane Street Group LLC bought a new position in shares of Lotus Technology in the fourth quarter worth about $37,000. Merit Financial Group LLC bought a new position in shares of Lotus Technology in the fourth quarter worth about $46,000. Finally, Bleakley Financial Group LLC bought a new stake in Lotus Technology during the 4th quarter valued at approximately $48,000. Institutional investors 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.