Lotus Technology (NASDAQ:LOT) Trading Up 2.5% – Here’s Why

Lotus Technology Inc. (NASDAQ:LOT)’s share price traded up 2.5% during trading on Tuesday . The stock traded as high as $1.68 and last traded at $1.64. 8,275 shares were traded during mid-day trading, a decline of 94% from the average session volume of 146,928 shares. The stock had previously closed at $1.60.

Lotus Technology Stock Up 0.9 %

The stock has a 50 day moving average price of $2.27 and a 200 day moving average price of $3.54. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -1.04 and a beta of 0.14.

Institutional Investors Weigh In On Lotus Technology

A number of institutional investors have recently added to or reduced their stakes in LOT. JPMorgan Chase & Co. acquired a new position in Lotus Technology during the 3rd quarter worth about $32,000. Bleakley Financial Group LLC acquired a new position in shares of Lotus Technology in the fourth quarter worth approximately $48,000. Tidal Investments LLC acquired a new stake in Lotus Technology during the 3rd quarter valued at approximately $402,000. Merit Financial Group LLC bought a new position in Lotus Technology during the 4th quarter worth approximately $46,000. Finally, State Street Corp acquired a new position in shares of Lotus Technology in the 3rd quarter worth approximately $58,000. 63.40% of the stock is owned by institutional investors.

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.