ECARX (NASDAQ:ECX) Shares Gap Down – Time to Sell?

Shares of 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.

Wall Street Analysts Forecast Growth

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

ECARX Trading Down 12.9 %

The firm’s fifty day moving average price is $2.05 and its 200 day moving average price is $1.91. The stock has a market capitalization of $956.40 million, a price-to-earnings ratio of -5.66 and a beta of 0.22.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in shares of ECARX in the fourth quarter valued at approximately $52,000. Citadel Advisors LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $68,000. Finally, Green Alpha Advisors LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $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.