ECARX (NASDAQ:ECX) Shares Down 10.2% – Time to Sell?

ECARX Holdings Inc. (NASDAQ:ECX) shares traded down 10.2% during trading on Wednesday . The company traded as low as $2.45 and last traded at $2.58. 4,515,856 shares were traded during trading, an increase of 68% from the average session volume of 2,683,456 shares. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

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

ECARX Stock Down 13.1 %

The company’s 50-day moving average is $2.17 and its two-hundred day moving average is $1.97. The company has a market cap of $843.19 million, a P/E ratio of -5.03 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

Large investors have recently modified their holdings of the stock. Two Sigma Securities LLC purchased a new position in ECARX in the fourth quarter valued at approximately $30,000. Tower Research Capital LLC TRC purchased a new position in shares of ECARX during the 4th quarter valued at $32,000. XTX Topco Ltd bought a new position in shares of ECARX during the 4th quarter worth $52,000. Citadel Advisors LLC purchased a new stake in ECARX in the 4th quarter worth about $68,000. Finally, Green Alpha Advisors LLC bought a new stake in ECARX in the 4th quarter valued at about $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.