On Tuesday, Lotus Technology Inc. (NASDAQ: LOT) experienced a 6.7% decrease in its stock price, with shares trading as low as $6.15 and closing at $6.23. Trading volume was lower than average, with only 72,611 shares changing hands compared to the daily average of 154,145 shares. The company’s market cap is $421.58 million, and it has a PE ratio of -7.42 and a beta of 0.13.
The recent quarterly earnings report on May 29th showed that Lotus Technology posted ($0.47) earnings per share for the quarter and generated revenue of $173.08 million. Based in Shanghai, China, the company continues to expand its presence in the electric vehicle market by designing, developing and selling battery electric lifestyle vehicles globally and distributing sports cars under the Lotus brand.
Deutsche Bank Aktiengesellschaft initiated coverage on the stock and gave it a “hold” rating with a price target of $7
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