ECARX (NASDAQ:ECX) Sees Strong Trading Volume – Time to Buy?

Shares of ECARX Holdings Inc. (NASDAQ:ECX) saw strong trading volume on Friday . 493,958 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 593,573 shares.The stock last traded at $2.81 and had previously closed at $2.83.

Wall Street Analysts Forecast Growth

Separately, UBS Group began 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 stock has a 50-day simple moving average of $2.05 and a 200-day simple moving average of $1.91. The stock has a market cap of $971.61 million, a P/E ratio of -5.75 and a beta of 0.22.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ECX. Millennium Management LLC bought a new stake in ECARX in the fourth quarter valued at $207,000. Citadel Advisors LLC bought a new stake in ECARX in the fourth quarter valued at $68,000. Jane Street Group LLC acquired a new position in shares of ECARX during the fourth quarter valued at about $364,000. Northern Trust Corp increased its position in shares of ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after acquiring an additional 41,568 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of ECARX during the fourth quarter worth about $30,000.

ECARX Company Profile

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.