ECARX (NASDAQ:ECX) Hits New 1-Year High - Still a Buy?

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $2.98 and last traded at $2.81, with a volume of 1670209 shares traded. The stock had previously closed at $2.41.

Analyst Ratings Changes

Separately, UBS Group assumed coverage on ECARX in a research note on Tuesday, February 11th. They issued a "buy" rating and a $3.20 target price on the stock.

ECARX Stock Down 4.6 %

The firm has a market cap of $902.33 million, a price-to-earnings ratio of -5.34 and a beta of 0.23. The business has a 50 day moving average of $2.02 and a 200 day moving average of $1.89.

Institutional Trading of ECARX

Hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC purchased a new position in shares of ECARX during the 4th quarter worth $30,000. Tower Research Capital LLC TRC purchased a new position in ECARX during the fourth quarter worth about $32,000. XTX Topco Ltd purchased a new position in ECARX during the fourth quarter worth about $52,000. Citadel Advisors LLC acquired a new stake in ECARX in the 4th quarter worth about $68,000. Finally, Green Alpha Advisors LLC purchased a new stake in ECARX in the 4th quarter valued at about $167,000.

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.