ECARX (NASDAQ:ECX) Trading 7.4% Higher – Should You Buy?

ECARX Holdings Inc. (NASDAQ:ECX) shares rose 7.4% during mid-day trading on Friday . The company traded as high as $2.09 and last traded at $2.09. Approximately 221,736 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,406,217 shares. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

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

ECARX Trading Up 4.6 %

The firm has a market capitalization of $689.42 million, a price-to-earnings ratio of -4.08 and a beta of 0.31. The company has a 50-day moving average of $1.91 and a 200-day moving average of $1.84.

Institutional Investors Weigh In On ECARX

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC acquired a new stake in shares of ECARX during the 4th quarter valued at approximately $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX during the 4th quarter valued at approximately $32,000. XTX Topco Ltd bought a new position in ECARX during the 4th quarter worth $52,000. Citadel Advisors LLC bought a new position in ECARX during the 4th quarter worth $68,000. Finally, Green Alpha Advisors LLC bought a new position in ECARX during the 4th quarter worth $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.