ECARX (NASDAQ:ECX) Shares Gap Up – Still a Buy?

Shares of ECARX Holdings Inc. (NASDAQ:ECX) 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.

Wall Street Analysts Forecast Growth

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

ECARX Stock Performance

The company has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $1.86. The company has a market capitalization of $729.97 million, a P/E ratio of -4.32 and a beta of 0.31.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC bought a new position in ECARX in the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX during the 4th quarter worth approximately $32,000. XTX Topco Ltd acquired a new stake in shares of ECARX during the 4th quarter worth approximately $52,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter worth approximately $68,000. Finally, Green Alpha Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter worth approximately $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.