ECARX (NASDAQ:ECX) Hits New 52-Week High – What’s Next?

Shares of ECARX Holdings Inc. (NASDAQ:ECX) hit a new 52-week high on Thursday . The company 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.

Analysts Set New Price Targets

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

ECARX Stock Up 13.9 %

The company has a market cap of $927.67 million, a P/E ratio of -5.49 and a beta of 0.31. The firm’s 50 day moving average is $1.97 and its two-hundred day moving average is $1.87.

Institutional Investors Weigh In On ECARX

Several institutional investors and hedge funds have recently made changes to their positions in ECX. Renaissance Technologies LLC bought a new position in ECARX during the 4th quarter worth approximately $630,000. Jane Street Group LLC acquired a new stake in shares of ECARX during the fourth quarter worth $364,000. Barclays PLC bought a new position in ECARX during the fourth quarter worth $348,000. Virtu Financial LLC acquired a new position in ECARX in the fourth quarter valued at $319,000. Finally, Marshall Wace LLP bought a new stake in ECARX during the fourth quarter valued at $245,000.

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.