ECARX (NASDAQ:ECX) Sees Strong Trading Volume – What’s Next?

ECARX Holdings Inc. (NASDAQ:ECX) saw strong trading volume on Friday . 829,274 shares changed hands during mid-day trading, an increase of 22% from the previous session’s volume of 681,892 shares.The stock last traded at $2.61 and had previously closed at $2.71.

Wall Street Analyst Weigh In

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

ECARX Stock Performance

The company has a 50-day moving average of $2.14 and a 200-day moving average of $1.95. The stock has a market cap of $898.95 million, a price-to-earnings ratio of -5.32 and a beta of 0.23.

Hedge Funds Weigh In On ECARX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new position in ECARX during the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC purchased a new stake in ECARX in the 4th quarter valued at approximately $32,000. XTX Topco Ltd purchased a new stake in ECARX in the 4th quarter valued at approximately $52,000. Citadel Advisors LLC purchased a new stake in ECARX in the 4th quarter valued at approximately $68,000. Finally, Northern Trust Corp lifted its stake in shares of ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after purchasing an additional 41,568 shares during the period.

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.