ECARX (NASDAQ:ECX) Sees Strong Trading Volume – Time to Buy?

ECARX Holdings Inc. (NASDAQ:ECX) shares saw unusually-high trading volume on Friday . Approximately 829,274 shares traded 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.

Analysts Set New Price Targets

Separately, UBS Group initiated 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 Down 0.6 %

The business’s 50 day moving average price is $2.13 and its 200-day moving average price is $1.94. The company has a market cap of $910.78 million, a price-to-earnings ratio of -5.37 and a beta of 0.23.

Institutional Trading of ECARX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC acquired a new stake in ECARX in the 4th quarter worth about $30,000. Tower Research Capital LLC TRC acquired a new stake in ECARX in the 4th quarter worth about $32,000. XTX Topco Ltd acquired a new stake in ECARX in the 4th quarter worth about $52,000. Citadel Advisors LLC acquired a new stake in ECARX in the 4th quarter worth about $68,000. Finally, Green Alpha Advisors LLC bought a new position in ECARX in the 4th quarter valued at about $167,000.

About ECARX

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.