ECARX (NASDAQ:ECX) Shares Gap Up – Should You Buy?

ECARX Holdings Inc. (NASDAQ:ECX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $2.75, but opened at $2.82. ECARX shares last traded at $2.91, with a volume of 843,148 shares trading hands.

Analyst Upgrades and Downgrades

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

ECARX Trading Up 11.5 %

The stock has a 50-day moving average price of $2.15 and a two-hundred day moving average price of $1.96. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -6.13 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in ECARX during the 4th quarter worth approximately $630,000. Jane Street Group LLC purchased a new stake in shares of ECARX during the fourth quarter valued at $364,000. Barclays PLC purchased a new stake in shares of ECARX during the fourth quarter valued at $348,000. Virtu Financial LLC acquired a new position in shares of ECARX in the 4th quarter valued at $319,000. Finally, Marshall Wace LLP purchased a new position in ECARX in the 4th quarter worth $245,000.

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.