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

ECARX Holdings Inc. (NASDAQ:ECX)’s share price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

ECARX Stock Performance

The business has a 50 day moving average price of $1.94 and a two-hundred day moving average price of $1.85. The company has a market cap of $729.97 million, a P/E ratio of -4.32 and a beta of 0.31.

Institutional Inflows and Outflows

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