ECARX (NASDAQ:ECX) Trading Up 4.8% – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX)’s share price traded up 4.8% during mid-day trading on Thursday . The stock traded as high as $2.64 and last traded at $2.73. 176,170 shares traded hands during trading, a decline of 73% from the average session volume of 656,694 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

Separately, UBS Group assumed coverage on shares of ECARX in a research note on Tuesday, February 11th. They set a “buy” rating and a $3.20 target price for the company.

ECARX Trading Up 9.4 %

The firm has a 50-day moving average of $2.12 and a 200 day moving average of $1.94. The company has a market cap of $961.47 million, a P/E ratio of -5.69 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in ECARX during the fourth quarter worth $630,000. Jane Street Group LLC purchased a new position in ECARX in the 4th quarter valued at approximately $364,000. Barclays PLC purchased a new stake in ECARX during the 4th quarter worth about $348,000. Virtu Financial LLC bought a new position in shares of ECARX in the fourth quarter valued at approximately $319,000. Finally, Marshall Wace LLP purchased a new position in shares of ECARX during the 4th quarter valued at $245,000.

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.