Lotus Technology ( (LOT) ) has provided an announcement.
Lotus Technology Inc. reported a significant increase in vehicle deliveries and revenue for the full year 2024, with over 12,000 vehicles delivered, marking a 74% year-on-year increase, and total revenue reaching $924 million, a 36% growth. Despite these achievements, the company faced increased operating and net losses, attributed to a decrease in gross margins. Additionally, Lotus Technology is set to consolidate its global business by acquiring a majority interest in Lotus UK, which will allow it to integrate all operations under the Lotus brand, pending regulatory approvals. Recent developments include reclaiming trademark rights in China, launching new vehicle models, and forming strategic partnerships to enhance its intelligent mobility offerings.
Spark’s Take on LOT Stock
According to Spark, TipRanks’ AI Analyst, LOT is a Neutral.
Lotus Technology’s overall stock score reflects its substantial financial difficulties, including negative profitability and financial instability. While there are positive revenue growth and strategic expansions, these are overshadowed by poor technical indicators and unattractive valuation metrics.
To see Spark’s full report on LOT stock, click here.
More about Lotus Technology
Lotus Technology Inc. is a global leader in intelligent and luxury mobility, focusing on the production and delivery of high-end vehicles, including lifestyle SUVs, sedans, and sportscars. The company operates over 200 stores worldwide, with significant market presence in Europe, China, and North America.
YTD Price Performance: -67.10%
Average Trading Volume: 210,404
Technical Sentiment Signal: Buy
Current Market Cap: $866.9M
Find detailed analytics on LOT stock on TipRanks’ Stock Analysis page.