ECARX (NASDAQ:ECX) Sets New 1-Year High – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX) shares reached a new 52-week high on Thursday . The stock traded as high as $3.25 and last traded at $3.25, with a volume of 8460893 shares traded. The stock had previously closed at $2.49.

Wall Street Analyst Weigh In

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

ECARX Price Performance

The firm has a market capitalization of $1.10 billion, a P/E ratio of -6.50 and a beta of 0.22. The company’s 50-day simple moving average is $2.05 and its two-hundred day simple moving average is $1.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of ECARX during the 4th quarter valued at $630,000. Jane Street Group LLC bought a new stake in shares of ECARX during the 4th quarter valued at $364,000. Barclays PLC bought a new stake in shares of ECARX during the 4th quarter valued at $348,000. Virtu Financial LLC bought a new stake in shares of ECARX during the 4th quarter valued at $319,000. Finally, Marshall Wace LLP bought a new stake in shares of ECARX during the 4th quarter valued at $245,000.

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.