Lotus Technology (NASDAQ:LOT) Shares Down 2.5% – Here’s What Happened

Lotus Technology Inc. (NASDAQ:LOT) shares were down 2.5% during mid-day trading on Friday . The stock traded as low as $3.39 and last traded at $3.44. Approximately 16,539 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 124,665 shares. The stock had previously closed at $3.53.

Lotus Technology Price Performance

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 market cap of $2.47 billion, a price-to-earnings ratio of -2.34 and a beta of 0.10. The business has a fifty day moving average price of $4.17 and a 200 day moving average price of $5.29.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lotus Technology stock. Tidal Investments LLC acquired a new stake in Lotus Technology Inc. (NASDAQ:LOT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 79,337 shares of the company’s stock, valued at approximately $402,000. 63.40% of the stock is currently owned by institutional investors and hedge funds.

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.