ECARX (NASDAQ:ECX) Shares Gap Up - Time to Buy?

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) gapped up before the market opened 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 traded.

Analyst Ratings Changes

Separately, UBS Group started coverage on shares of ECARX in a research report on Tuesday, February 11th. They issued a "buy" rating and a $3.20 price objective on the stock.

ECARX Stock Down 1.8 %

The firm has a 50 day moving average of $2.13 and a 200 day moving average of $1.94. The firm has a market cap of $898.95 million, a PE ratio of -5.32 and a beta of 0.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC purchased a new stake in ECARX during the fourth quarter valued at about $30,000. Tower Research Capital LLC TRC purchased a new position in ECARX in the 4th quarter valued at approximately $32,000. XTX Topco Ltd bought a new stake in ECARX during the 4th quarter valued at $52,000. Citadel Advisors LLC purchased a new stake in shares of ECARX during the fourth quarter worth $68,000. Finally, Green Alpha Advisors LLC bought a new position in shares of ECARX in the fourth quarter worth $167,000.

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.