ECARX (NASDAQ:ECX) Trading Down 5.2% – Should You Sell?

ECARX Holdings Inc. (NASDAQ:ECX) shares fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $1.94 and last traded at $1.98. 1,299,272 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 1,190,661 shares. The stock had previously closed at $2.09.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on ECARX in a research report on Tuesday. They issued a “buy” rating and a $3.20 price target for the company.

ECARX Stock Down 4.5 %

The firm’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $1.81. The firm has a market capitalization of $674.21 million, a PE ratio of -3.95 and a beta of 0.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ECARX stock. Green Alpha Advisors LLC bought a new position in shares of ECARX Holdings Inc. (NASDAQ:ECX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 78,996 shares of the company’s stock, valued at approximately $167,000.

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.