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

ECARX Holdings Inc. (NASDAQ:ECX) shares gapped up prior to trading 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 started coverage on shares of ECARX in a report on Tuesday. They set a “buy” rating and a $3.20 price target for the company.

ECARX Stock Up 9.4 %

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

Institutional Investors Weigh In On ECARX

An institutional investor recently bought a new position in ECARX stock. Green Alpha Advisors LLC purchased a new stake in shares of ECARX Holdings Inc. (NASDAQ:ECX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 78,996 shares of the company’s stock, 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.