Lotus Technology (NASDAQ:LOT) Sets New 1-Year Low – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.48 and last traded at $1.52, with a volume of 218197 shares traded. The stock had previously closed at $1.63.

Lotus Technology Price Performance

The company has a market capitalization of $1.03 billion, a PE ratio of -0.97 and a beta of 0.14. The stock’s 50 day simple moving average is $2.88 and its 200-day simple moving average is $3.95.

Hedge Funds Weigh In On Lotus Technology

A number of institutional investors and hedge funds have recently made changes to their positions in LOT. Mariner LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth about $1,426,000. Tidal Investments LLC acquired a new position in shares of Lotus Technology during the third quarter worth about $402,000. Townsquare Capital LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth about $236,000. Orion Portfolio Solutions LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth about $165,000. Finally, Savant Capital LLC acquired a new position in shares of Lotus Technology during the fourth quarter worth about $109,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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.