ECARX (NASDAQ:ECX) Shares Up 4.8% – Should You Buy?

ECARX Holdings Inc. (NASDAQ:ECX)’s share price rose 4.8% on Thursday . The stock traded as high as $2.64 and last traded at $2.73. Approximately 176,170 shares were traded during trading, a decline of 73% from the average daily volume of 656,694 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

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

ECARX Stock Down 1.8 %

The stock has a market cap of $898.95 million, a P/E ratio of -5.32 and a beta of 0.23. The firm has a 50 day moving average price of $2.14 and a 200 day moving average price of $1.95.

Hedge Funds Weigh In On ECARX

Several large investors have recently added to or reduced their stakes in ECX. Green Alpha Advisors LLC bought a new stake in shares of ECARX during the 4th quarter valued at $167,000. Millennium Management LLC purchased a new position in shares of ECARX in the fourth quarter valued at about $207,000. Citadel Advisors LLC bought a new position in shares of ECARX in the fourth quarter worth about $68,000. Northern Trust Corp grew its position in shares of ECARX by 103.8% during 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 during the 4th quarter valued at approximately $364,000.

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.