Lotus Technology (NASDAQ:LOT) Stock Price Up 6.4% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT)’s stock price rose 6.4% on Friday . The stock traded as high as $3.86 and last traded at $3.84. Approximately 17,658 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 94,379 shares. The stock had previously closed at $3.61.

Lotus Technology Stock Performance

The stock has a market cap of $2.40 billion, a P/E ratio of -2.27 and a beta of 0.13. The stock has a fifty day simple moving average of $3.99 and a 200-day simple moving average of $4.95. 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 and other institutional investors have recently bought and sold shares of the company. State Street Corp acquired a new stake in Lotus Technology in the third quarter worth $58,000. Tidal Investments LLC bought a new stake in shares of Lotus Technology in the 3rd quarter valued at $402,000. Finally, JPMorgan Chase & Co. acquired a new stake in Lotus Technology during the 3rd quarter worth $32,000. Institutional investors own 63.40% of the company’s stock.

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.