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

Lotus Technology Inc. (NASDAQ:LOT)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $3.18, but opened at $3.40. Lotus Technology shares last traded at $3.31, with a volume of 6,396 shares traded.

Lotus Technology Trading Up 2.8 %

The company has a market capitalization of $2.21 billion, a P/E ratio of -2.10 and a beta of 0.13. The company’s fifty day moving average is $3.92 and its 200 day moving average is $4.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp purchased a new stake in Lotus Technology during the 3rd quarter valued at about $58,000. Tidal Investments LLC purchased a new position in shares of Lotus Technology during the 3rd quarter worth approximately $402,000. JPMorgan Chase & Co. purchased a new position in Lotus Technology during the third quarter valued at $32,000. Finally, Merit Financial Group LLC purchased a new stake in Lotus Technology in the fourth quarter worth about $46,000. 63.40% of the stock is currently owned by hedge funds and other institutional investors.

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.