ECARX (NASDAQ:ECX) Shares Gap Up – Here’s What Happened

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.39, but opened at $2.50. ECARX shares last traded at $2.26, with a volume of 821,056 shares trading hands.

Analyst Ratings Changes

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

ECARX Trading Down 9.6 %

The stock’s fifty day moving average is $1.94 and its two-hundred day moving average is $1.85. The firm has a market cap of $729.97 million, a P/E ratio of -4.32 and a beta of 0.31.

Institutional Trading of ECARX

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC bought a new position in shares of ECARX in the fourth quarter worth approximately $30,000. Tower Research Capital LLC TRC purchased a new position in ECARX in the 4th quarter worth approximately $32,000. XTX Topco Ltd bought a new position in shares of ECARX in the 4th quarter worth $52,000. Citadel Advisors LLC purchased a new stake in shares of ECARX during the 4th quarter valued at $68,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of ECARX during the 4th quarter worth $167,000.

About ECARX

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.