Lotus Technology (NASDAQ:LOT) Trading Down 7.7% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT)’s stock price dropped 7.7% during trading on Monday . The company traded as low as $3.78 and last traded at $3.84. Approximately 35,719 shares were traded 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 cap of $2.53 billion, a price-to-earnings ratio of -2.39 and a beta of 0.10. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.46 and a current ratio of 0.61. The company has a 50 day moving average price of $4.12 and a 200 day moving average price of $5.15.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in shares of Lotus Technology during the third quarter worth $32,000. State Street Corp acquired a new position in Lotus Technology during the 3rd quarter worth about $58,000. Finally, Tidal Investments LLC purchased a new position 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.