ECARX (NASDAQ:ECX) Shares Gap Up – Should You Buy?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $2.71, but opened at $2.90. ECARX shares last traded at $2.90, with a volume of 422,511 shares.

Analyst Ratings Changes

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

ECARX Stock Down 0.8 %

The stock has a market capitalization of $885.43 million, a PE ratio of -5.24 and a beta of 0.23. The firm has a 50 day moving average price of $2.10 and a 200-day moving average price of $1.93.

Institutional Trading of ECARX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new stake in ECARX during the fourth quarter worth about $30,000. Tower Research Capital LLC TRC acquired a new stake in ECARX during the fourth quarter worth about $32,000. XTX Topco Ltd acquired a new stake in ECARX during the fourth quarter worth about $52,000. Citadel Advisors LLC acquired a new stake in ECARX during the fourth quarter worth about $68,000. Finally, Northern Trust Corp grew its holdings in ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after acquiring an additional 41,568 shares during the period.

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.