ECARX (NASDAQ:ECX) Shares Gap Down – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX)’s share price gapped down before the market opened on Friday . The stock had previously closed at $2.26, but opened at $1.74. ECARX shares last traded at $1.51, with a volume of 26,756,895 shares trading hands.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on shares of 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 33.6 %

The company has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $1.97. The firm has a market capitalization of $506.93 million, a price-to-earnings ratio of -3.00 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

Several large investors have recently bought and sold shares of the stock. Two Sigma Securities LLC purchased a new stake in ECARX in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC acquired a new stake in ECARX in the fourth quarter valued at $32,000. XTX Topco Ltd purchased a new stake in ECARX in the 4th quarter valued at approximately $52,000. Citadel Advisors LLC purchased a new stake in shares of ECARX during the fourth quarter worth about $68,000. Finally, Green Alpha Advisors LLC acquired a new position in ECARX in the fourth quarter valued at $167,000.

ECARX Company Profile

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.