ECARX (NASDAQ:ECX) Shares Gap Down – Should You Sell?

ECARX Holdings Inc. (NASDAQ:ECX) gapped down prior to trading 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 started coverage on ECARX in a research report on Tuesday, February 11th. They issued a “buy” rating and a $3.20 price target for the company.

ECARX Trading Down 33.6 %

The stock’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $1.97. The stock has a market capitalization of $506.93 million, a P/E ratio of -3.00 and a beta of 0.23.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Two Sigma Securities LLC purchased a new stake in shares of ECARX during the fourth quarter valued at $30,000. Tower Research Capital LLC TRC bought a new stake in ECARX during the fourth quarter valued at about $32,000. XTX Topco Ltd bought a new position in ECARX in the 4th quarter worth approximately $52,000. Citadel Advisors LLC bought a new stake in ECARX in the 4th quarter valued at $68,000. Finally, Northern Trust Corp lifted its position in shares of ECARX by 103.8% in the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after buying an additional 41,568 shares in the last quarter.

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.