ECARX (NASDAQ:ECX) Shares Gap Down – Should You Sell?

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) gapped down prior to trading 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.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.20.

ECARX Stock Performance

The company has a 50 day moving average price of $1.80 and a 200 day moving average price of $1.88. The company has a market capitalization of $778.53 million, a PE ratio of -9.55 and a beta of 0.76.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of ECARX during the second quarter valued at approximately $2,341,000. Tudor Investment Corp ET AL boosted its holdings in shares of ECARX by 430.1% during the third quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock valued at $2,573,000 after acquiring an additional 1,038,476 shares during the period. Citadel Advisors LLC bought a new position in shares of ECARX during the third quarter worth about $2,054,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of ECARX during the second quarter valued at approximately $1,722,000. Finally, Jane Street Group LLC grew its holdings in ECARX by 234.4% in the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock worth $726,000 after buying an additional 404,119 shares in the last quarter.

About ECARX

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).