ECARX (NASDAQ:ECX) Trading Up 5% – Time to Buy?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price shot up 5% on Tuesday . The company traded as high as $2.01 and last traded at $2.01. 448,819 shares were traded during trading, a decline of 58% from the average session volume of 1,072,296 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

Separately, UBS Group started coverage on shares of ECARX in a research note on Tuesday. They issued a “buy” rating and a $3.20 target price on the stock.

ECARX Stock Performance

The stock has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $1.81. The firm has a market cap of $701.25 million, a PE ratio of -4.15 and a beta of 0.31.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ECARX stock. Virtu Financial LLC acquired a new position in shares of ECARX Holdings Inc. (NASDAQ:ECX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 151,150 shares of the company’s stock, valued at approximately $319,000.

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.