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

ECARX Holdings Inc. (NASDAQ:ECX) gapped down prior to trading on Wednesday . The stock had previously closed at $2.49, but opened at $2.43. ECARX shares last traded at $2.64, with a volume of 846,375 shares.

Analyst Ratings Changes

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

ECARX Price Performance

The firm has a market cap of $996.95 million, a PE ratio of -5.90 and a beta of 0.22. The business’s 50 day moving average price is $2.03 and its 200 day moving average price is $1.90.

Hedge Funds Weigh In On ECARX

A number of institutional investors have recently bought and sold shares of ECX. Millennium Management LLC acquired a new position in ECARX in the fourth quarter valued at approximately $207,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter worth about $68,000. Jane Street Group LLC acquired a new stake in shares of ECARX during the 4th quarter worth about $364,000. Northern Trust Corp raised its holdings in ECARX by 103.8% in the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after buying an additional 41,568 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in ECARX in the fourth quarter valued at about $30,000.

About ECARX

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.