Lotus Technology (NASDAQ:LOT) Sees Strong Trading Volume – Still a Buy?

Lotus Technology Inc. (NASDAQ:LOT) saw unusually-high trading volume on Friday . Approximately 74,042 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 126,041 shares.The stock last traded at $4.39 and had previously closed at $4.03.

Lotus Technology Trading Up 3.2 %

The company has a market cap of $2.82 billion, a P/E ratio of -2.67 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. The firm’s 50-day moving average price is $4.12 and its 200-day moving average price is $5.17.

Institutional Trading of Lotus Technology

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