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Lotus Technology Inc. (NASDAQ: LOT) saw its stock price drop by 6.7% on Tuesday, trading as low as $6.15 before closing at $6.23. This decline was accompanied by a decrease in trading volume compared to the average daily volume. Analysts at Deutsche Bank Aktiengesellschaft recently initiated coverage on Lotus Technology with a “hold” rating and a price target of $7.00.
The company’s 50-day moving average is $7.86, with a debt-to-equity ratio of 7.93 and a market cap of $421.58 million. Lotus Technology reported quarterly earnings on May 29th, with a loss of $0.47 per share and revenue of $173.08 million. The company specializes in the design, development, and sale of electric lifestyle vehicles, as well as distributing sports cars under the Lotus brand.
Investors and analysts are closely monitoring Lotus Technology as it navigates market challenges and seeks to grow its business. With a focus on electric vehicles, the company is positioned in a competitive and dynamic industry. Investors are advised to stay informed on the latest news and developments regarding Lotus Technology to make informed decisions about their investments.
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