Lotus Technology (NASDAQ:LOT) Shares Down 7.7% – What’s Next?

Lotus Technology Inc. (NASDAQ:LOT) dropped 7.7% during trading on Monday . The stock traded as low as $3.78 and last traded at $3.84. Approximately 35,719 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 126,415 shares. The stock had previously closed at $4.16.

Lotus Technology Trading Down 10.3 %

The firm has a market capitalization of $2.53 billion, a PE ratio of -2.39 and a beta of 0.10. The company’s fifty day simple moving average is $4.12 and its 200-day simple moving average is $5.15. 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 Investors Weigh In On Lotus Technology

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in Lotus Technology during the third quarter worth $32,000. State Street Corp purchased a new position in shares of Lotus Technology during the 3rd quarter worth $58,000. Finally, Tidal Investments LLC acquired a new position in shares of Lotus Technology during the 3rd quarter valued at about $402,000. Hedge funds and other 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.