ECARX (NASDAQ:ECX) Trading Down 5.5% – Here’s What Happened

ECARX Holdings Inc. (NASDAQ:ECX) shares traded down 5.5% during trading on Tuesday . The company traded as low as $2.51 and last traded at $2.50. 522,104 shares were traded during trading, a decline of 16% from the average session volume of 623,447 shares. The stock had previously closed at $2.64.

Wall Street Analysts Forecast Growth

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 price target on the stock.

ECARX Price Performance

The firm has a market cap of $893.88 million, a P/E ratio of -5.27 and a beta of 0.23. The stock’s 50 day moving average is $2.09 and its two-hundred day moving average is $1.93.

Hedge Funds Weigh In On ECARX

A number of large investors have recently modified their holdings of ECX. Green Alpha Advisors LLC acquired a new position in ECARX during the 4th quarter worth $167,000. Virtu Financial LLC acquired a new position in shares of ECARX during the fourth quarter valued at $319,000. Renaissance Technologies LLC acquired a new stake in ECARX in the fourth quarter worth about $630,000. Barclays PLC bought a new stake in ECARX during the 4th quarter worth about $348,000. Finally, XTX Topco Ltd acquired a new position in ECARX during the 4th quarter valued at about $52,000.

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.