ECARX (NASDAQ:ECX) Shares Gap Down – Time to Sell?

ECARX Holdings Inc. (NASDAQ:ECX) shares gapped down before the market opened on Friday . The stock had previously closed at $2.26, but opened at $1.74. ECARX shares last traded at $1.51, with a volume of 26,756,895 shares trading hands.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on shares of ECARX in a research note on Tuesday, February 11th. They issued a “buy” rating and a $3.20 target price for the company.

ECARX Stock Down 33.6 %

The company’s 50-day simple moving average is $2.19 and its 200 day simple moving average is $1.97. The stock has a market capitalization of $506.93 million, a price-to-earnings ratio of -3.00 and a beta of 0.23.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC acquired a new position in ECARX during the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC acquired a new position in ECARX in the 4th quarter valued at $32,000. XTX Topco Ltd bought a new position in ECARX during the fourth quarter worth $52,000. Citadel Advisors LLC bought a new stake in ECARX in the 4th quarter valued at $68,000. Finally, Green Alpha Advisors LLC acquired a new stake in ECARX in the 4th quarter worth $167,000.

ECARX Company Profile

ECARX Holdings Inc develops a full stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology by smart mobility worldwide. It offers system on chips, central computing platforms, operating systems, and software. Its core products include infotainment head units, digital cockpits, vehicle chip-set solutions, core operating system, and integrated software stack.