ECARX (NASDAQ:ECX) Shares Up 6.2% – Time to Buy?

ECARX Holdings Inc. (NASDAQ:ECX) shares traded up 6.2% during trading on Thursday . The stock traded as high as $2.49 and last traded at $2.48. 2,456,457 shares changed hands during trading, an increase of 43% from the average session volume of 1,716,032 shares. The stock had previously closed at $2.33.

Analyst Ratings Changes

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

ECARX Stock Performance

The company has a market cap of $807.70 million, a PE ratio of -4.78 and a beta of 0.31. The firm’s 50 day moving average is $1.93 and its 200-day moving average is $1.85.

Institutional Investors Weigh In On ECARX

Several hedge funds and other institutional investors have recently made changes to their positions in ECX. Green Alpha Advisors LLC purchased a new stake in ECARX in the 4th quarter valued at $167,000. Virtu Financial LLC purchased a new stake in shares of ECARX during the 4th quarter valued at approximately $319,000. Renaissance Technologies LLC acquired a new position in ECARX in the fourth quarter valued at approximately $630,000. Barclays PLC acquired a new position in ECARX in the fourth quarter valued at approximately $348,000. Finally, XTX Topco Ltd purchased a new position in ECARX in the fourth 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.