Lotus Technology Inc. (NASDAQ: LOT) experienced a 6.7% decrease in its stock price on Tuesday, trading as low as $6.15 and closing at $6.23. The trading volume was lower than average, with only 72,611 shares changing hands compared to the daily average of 154,145 shares.
Deutsche Bank Aktiengesellschaft recently initiated coverage on Lotus Technology, with a “hold” rating and a target price of $7.00. The company’s 50-day moving average is $7.86, with a debt-to-equity ratio of 7.93 and current and quick ratios of 0.78 and 0.57, respectively. Lotus Technology has a market capitalization of $421.58 million, a PE ratio of -7.42, and a beta of 0.13.
Lotus Technology reported quarterly earnings results on May 29th, posting earnings per share of ($0.47) and revenue of $173.08 million. The company designs, develops, and sells battery electric lifestyle vehicles and sports cars under the Lotus brand, operating worldwide. Based in Shanghai, China, Lotus Technology is a leading player in the electric vehicle market.
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