ECARX (NASDAQ:ECX) Sees Strong Trading Volume – What’s Next?

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.

Analyst Upgrades and Downgrades

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

ECARX Stock Performance

The company has a market cap of $971.61 million, a price-to-earnings ratio of -5.75 and a beta of 0.22. The firm has a fifty day moving average price of $2.05 and a 200 day moving average price of $1.91.

Institutional Investors Weigh In On ECARX

Large investors have recently made changes to their positions in the stock. Green Alpha Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter worth about $167,000. Millennium Management LLC bought a new stake in shares of ECARX during the fourth quarter worth approximately $207,000. Citadel Advisors LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $68,000. Northern Trust Corp increased its stake 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 purchasing an additional 41,568 shares during the period. Finally, Jane Street Group LLC acquired a new stake in ECARX during the 4th quarter worth approximately $364,000.

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.