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. Despite this setback, Deutsche Bank Aktiengesellschaft recently initiated coverage on Lotus Technology, with a “hold” rating and a target price of $7.00.
Lotus Technology has been growing its market presence for years and is now a leading player in the electric vehicle market. Based in Shanghai, China, the company designs, develops and sells battery electric lifestyle vehicles and sports cars under the Lotus brand worldwide. The company’s current financial health can be seen from its 50-day moving average of $7.86, debt-to-equity ratio of 7.93 and current and quick ratios of 0.78 and 0.57 respectively.
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