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

ECARX Holdings Inc. (NASDAQ:ECX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.60, but opened at $1.81. ECARX shares last traded at $1.83, with a volume of 1,030,784 shares.

Analyst Ratings Changes

Separately, UBS Group initiated coverage on ECARX in a research report on Tuesday, February 11th. They set a “buy” rating and a $3.20 target price for the company.

ECARX Price Performance

The company has a market capitalization of $680.29 million, a price-to-earnings ratio of -3.67 and a beta of 0.47. The firm has a 50-day moving average price of $1.66 and a two-hundred day moving average price of $1.82.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $168.40 million during the quarter, compared to analysts’ expectations of $154.18 million. On average, equities analysts predict that ECARX Holdings Inc. will post -0.42 EPS for the current year.

Hedge Funds Weigh In On ECARX

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new stake in shares of ECARX during the 4th quarter valued at $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX during the 4th quarter valued at $32,000. XTX Topco Ltd acquired a new stake in shares of ECARX during the 4th quarter valued at $52,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter valued at $68,000. Finally, Green Alpha Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter valued at $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.