Lotus Technology (NASDAQ:LOT) Shares Gap Up – Still a Buy?

Lotus Technology Inc. (NASDAQ:LOT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.60, but opened at $3.85. Lotus Technology shares last traded at $3.73, with a volume of 10,906 shares.

Lotus Technology Price Performance

The stock’s 50-day simple moving average is $4.10 and its two-hundred day simple moving average is $5.13. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -2.42 and a beta of 0.10. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 7.93.

Institutional Inflows and Outflows

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