Lotus Technology (NASDAQ:LOT) Shares Gap Up – Here’s Why

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 Trading Up 0.3 %

The stock’s fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $5.09. The firm has a market cap of $2.44 billion, a PE ratio of -2.31 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

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in shares of Lotus Technology in the third quarter worth approximately $32,000. State Street Corp purchased a new position in Lotus Technology in the 3rd quarter worth approximately $58,000. Finally, Tidal Investments LLC purchased a new position in Lotus Technology in the 3rd quarter worth approximately $402,000. Hedge funds and other 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.