ECARX (NASDAQ:ECX) Shares Gap Down – What’s Next?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $2.49, but opened at $2.43. ECARX shares last traded at $2.64, with a volume of 846,375 shares traded.

Analyst Upgrades and Downgrades

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

ECARX Price Performance

The stock’s 50 day moving average is $2.03 and its two-hundred day moving average is $1.90. The stock has a market capitalization of $996.95 million, a PE ratio of -5.90 and a beta of 0.22.

Institutional Trading of ECARX

A number of institutional investors have recently bought and sold shares of the business. Green Alpha Advisors LLC purchased a new stake in ECARX during the fourth quarter worth approximately $167,000. Virtu Financial LLC purchased a new stake in shares of ECARX during the 4th quarter worth approximately $319,000. Renaissance Technologies LLC acquired a new position in shares of ECARX in the 4th quarter valued at $630,000. Barclays PLC acquired a new stake in ECARX during the 4th quarter worth $348,000. Finally, XTX Topco Ltd purchased a new stake in ECARX in the fourth quarter valued at $52,000.

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.