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

ECARX Holdings Inc. (NASDAQ:ECX) shares gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

ECARX Stock Down 0.8 %

The firm has a market cap of $885.43 million, a PE ratio of -5.24 and a beta of 0.23. The firm has a 50-day moving average price of $2.10 and a two-hundred day moving average price of $1.93.

Hedge Funds Weigh In On ECARX

Several hedge funds and other institutional investors have recently made changes to their positions in ECX. Green Alpha Advisors LLC purchased a new position in shares of ECARX in the fourth quarter valued at approximately $167,000. Virtu Financial LLC purchased a new position in shares of ECARX in the fourth quarter valued at approximately $319,000. Renaissance Technologies LLC purchased a new position in ECARX during the fourth quarter worth approximately $630,000. Barclays PLC purchased a new position in ECARX during the fourth quarter worth approximately $348,000. Finally, XTX Topco Ltd purchased a new position in ECARX during the fourth quarter worth approximately $52,000.

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.