ECARX (NASDAQ:ECX) Trading Up 4.8% - Here's Why

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

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on shares of 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 Performance

The business's fifty day simple moving average is $2.14 and its 200 day simple moving average is $1.95. The stock has a market cap of $983.43 million, a price-to-earnings ratio of -5.82 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

A number of hedge funds have recently bought and sold shares of the business. Green Alpha Advisors LLC acquired a new stake in ECARX in the fourth quarter valued at $167,000. Millennium Management LLC acquired a new stake in shares of ECARX in the 4th quarter valued at about $207,000. Citadel Advisors LLC bought a new position in shares of ECARX during the fourth quarter worth about $68,000. Northern Trust Corp grew its stake in ECARX by 103.8% in 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 in the last quarter. Finally, Jane Street Group LLC bought a new stake in ECARX in the fourth quarter valued at about $364,000.

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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.