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

ECARX Holdings Inc. (NASDAQ:ECX)’s share price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

Separately, UBS Group began 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 Up 3.9 %

The company has a market capitalization of $951.33 million, a PE ratio of -5.69 and a beta of 0.23. The firm has a 50-day moving average of $2.08 and a two-hundred day moving average of $1.92.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new position in ECARX during the fourth quarter worth $30,000. Tower Research Capital LLC TRC purchased a new position in shares of ECARX during the fourth quarter worth $32,000. XTX Topco Ltd acquired a new stake in shares of ECARX in the fourth quarter valued at $52,000. Citadel Advisors LLC purchased a new stake in shares of ECARX in the 4th quarter valued at $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.