ECARX (NASDAQ:ECX) Shares Gap Down – Here’s What Happened
by Sarita Garza · The Markets DailyECARX Holdings, Inc. (NASDAQ:ECX – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.06, but opened at $2.0050. ECARX shares last traded at $2.0350, with a volume of 1,441,464 shares trading hands.
Analyst Upgrades and Downgrades
ECX has been the topic of several research analyst reports. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.20.
Check Out Our Latest Research Report on ECARX
ECARX Stock Performance
The stock has a market cap of $778.53 million, a price-to-earnings ratio of -9.55 and a beta of 0.76. The business’s 50 day moving average is $1.80 and its 200 day moving average is $1.88.
Institutional Trading of ECARX
A number of hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its stake in shares of ECARX by 430.1% in the third quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock worth $2,573,000 after acquiring an additional 1,038,476 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of ECARX by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after buying an additional 16,420 shares during the last quarter. Citadel Advisors LLC bought a new position in ECARX during the third quarter valued at approximately $2,054,000. UBS Group AG lifted its stake in ECARX by 13.1% in the third quarter. UBS Group AG now owns 950,930 shares of the company’s stock valued at $1,911,000 after acquiring an additional 110,243 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in ECARX in the second quarter worth approximately $1,722,000.
ECARX Company Profile
ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.
The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).