ECARX (NASDAQ:ECX) Trading Up 7.4% – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX) shares shot up 7.4% during mid-day trading on Friday . The stock traded as high as $2.09 and last traded at $2.09. 221,736 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,406,217 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Separately, UBS Group started 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 Up 6.4 %

The stock’s fifty day simple moving average is $1.91 and its 200 day simple moving average is $1.83. The company has a market cap of $701.25 million, a price-to-earnings ratio of -4.15 and a beta of 0.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ECX. Two Sigma Securities LLC acquired a new position in shares of ECARX in the fourth quarter worth $30,000. Tower Research Capital LLC TRC acquired a new position in ECARX during the 4th quarter worth $32,000. XTX Topco Ltd purchased a new stake in ECARX during the 4th quarter worth about $52,000. Citadel Advisors LLC acquired a new stake in ECARX in the 4th quarter valued at about $68,000. Finally, Green Alpha Advisors LLC purchased a new position in shares of 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.