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

ECARX Holdings Inc. (NASDAQ:ECX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $1.73, but opened at $1.89. ECARX shares last traded at $1.91, with a volume of 544,499 shares changing hands.

Analyst Ratings Changes

Separately, UBS Group began coverage on shares of ECARX in a research report on Tuesday. They set a “buy” rating and a $3.20 price objective on the stock.

ECARX Price Performance

The firm’s 50-day moving average is $1.90 and its two-hundred day moving average is $1.81. The company has a market cap of $706.32 million, a P/E ratio of -4.18 and a beta of 0.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ECARX stock. Virtu Financial LLC bought a new position in ECARX Holdings Inc. (NASDAQ:ECX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 151,150 shares of the company’s stock, valued at approximately $319,000.

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.