ECARX (NASDAQ:ECX) Shares Gap Up – What’s Next?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.73, but opened at $2.80. ECARX shares last traded at $2.87, with a volume of 169,967 shares.

Wall Street Analyst Weigh In

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

ECARX Stock Performance

The stock has a market cap of $946.26 million, a PE ratio of -5.60 and a beta of 0.23. The stock has a fifty day moving average price of $2.01 and a 200 day moving average price of $1.88.

Hedge Funds Weigh In On ECARX

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in ECARX during the 4th quarter valued at $207,000. Citadel Advisors LLC purchased a new position in ECARX during the 4th quarter valued at $68,000. Jane Street Group LLC purchased a new position in ECARX during the 4th quarter valued at $364,000. Northern Trust Corp boosted its holdings in ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after acquiring an additional 41,568 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in ECARX during the 4th quarter valued at $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.