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

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

Analysts Set New Price Targets

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

ECARX Stock Performance

The stock has a market cap of $689.42 million, a PE ratio of -4.08 and a beta of 0.31. The stock has a fifty day simple moving average of $1.91 and a two-hundred day simple moving average of $1.84.

Hedge Funds Weigh In On ECARX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Green Alpha Advisors LLC acquired a new position in shares of ECARX in the 4th quarter valued at approximately $167,000. Virtu Financial LLC acquired a new position in shares of ECARX in the 4th quarter valued at approximately $319,000. Renaissance Technologies LLC acquired a new position in shares of ECARX in the 4th quarter valued at approximately $630,000. Barclays PLC acquired a new position in shares of ECARX in the 4th quarter valued at approximately $348,000. Finally, XTX Topco Ltd acquired a new position in shares of ECARX in the 4th quarter valued at approximately $52,000.

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.