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

ECARX Holdings Inc. (NASDAQ:ECX) traded up 7.4% during mid-day trading on Friday . The company traded as high as $2.09 and last traded at $2.09. 221,736 shares traded hands 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.

Wall Street Analyst Weigh In

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

ECARX Price Performance

The firm’s 50-day moving average is $1.91 and its two-hundred day moving average is $1.83. The company has a market cap of $701.25 million, a P/E ratio of -4.15 and a beta of 0.31.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC purchased a new position in ECARX in the fourth quarter valued at about $167,000. Virtu Financial LLC acquired a new stake in ECARX in the 4th quarter worth approximately $319,000. Renaissance Technologies LLC purchased a new stake in shares of ECARX during the fourth quarter valued at $630,000. Barclays PLC acquired a new position in shares of ECARX in the fourth quarter valued at about $348,000. Finally, XTX Topco Ltd purchased a new position in ECARX during the 4th quarter worth 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.