ECARX (NASDAQ:ECX) Hits New 1-Year High – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $3.25 and last traded at $3.25, with a volume of 8460893 shares. The stock had previously closed at $2.49.

Analysts Set New Price Targets

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

ECARX Trading Down 4.2 %

The business’s 50 day moving average price is $2.08 and its 200-day moving average price is $1.92. The company has a market cap of $915.84 million, a price-to-earnings ratio of -5.42 and a beta of 0.22.

Institutional Trading of ECARX

A number of hedge funds have recently modified their holdings of ECX. Renaissance Technologies LLC acquired a new stake in ECARX in the 4th quarter worth about $630,000. Jane Street Group LLC acquired a new stake in ECARX in the 4th quarter worth about $364,000. Barclays PLC acquired a new stake in ECARX in the 4th quarter worth about $348,000. Virtu Financial LLC acquired a new stake in ECARX in the 4th quarter worth about $319,000. Finally, Marshall Wace LLP acquired a new stake in ECARX in the 4th quarter worth about $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.