ECARX (NASDAQ:ECX) Shares Gap Up - What's Next?

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.75, but opened at $1.8250. ECARX shares last traded at $1.8350, with a volume of 1,691,273 shares trading hands.Analyst Ratings ChangesSeveral research firms have commented on ECX. Wall Street Zen upgraded shares of ECARX from a "sell" rating to a "hold" rating in a research note on Saturday, November 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of ECARX in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $3.20.Check Out Our Latest Research Report on ECARXECARX Price PerformanceThe business's 50-day simple moving average is $2.16 and its 200-day simple moving average is $1.87. The company has a market cap of $682.51 million, a price-to-earnings ratio of -8.37 and a beta of 0.74. ECARX (NASDAQ:ECX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The firm had revenue of $155.30 million for the quarter, compared to analyst estimates of $223.92 million. As a group, sell-side analysts forecast that ECARX Holdings, Inc. will post -0.42 EPS for the current year. Institutional Investors Weigh In On ECARXSeveral large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ECARX during the 2nd quarter valued at $1,722,000. Invesco Ltd. acquired a new position in shares of ECARX in the 1st quarter valued at about $302,000. Deutsche Bank AG bought a new position in shares of ECARX during the first quarter valued at approximately $3,722,000. Hhlr Advisors LTD. acquired a new stake in ECARX in the first quarter worth $504,000. Finally, XTX Topco Ltd raised its holdings in shares of ECARX by 329.8% during the first quarter. XTX Topco Ltd now owns 105,342 shares of the company's stock valued at $133,000 after buying an additional 80,833 shares during the last quarter. About ECARX (Get Free Report)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.Featured StoriesFive stocks we like better than ECARXWhat is the Shanghai Stock Exchange Composite Index?2 Reasons to Load Up on Fiserv, 1 to Stay AwayFollowing Congress Stock Trades3 Stocks to Buy for the Evolution of AI InfrastructureWhat Is WallStreetBets and What Stocks Are They Targeting?How Semtech’s Data Center Chips Are Powering the AI BoomThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in ECARX Right Now?Before you consider ECARX, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ECARX wasn't on the list.While ECARX currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here