ECARX (NASDAQ:ECX) Stock Price Down 10.2% – Time to Sell?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price traded down 10.2% during trading on Wednesday . The stock traded as low as $2.45 and last traded at $2.58. 4,515,856 shares changed hands during mid-day trading, an increase of 68% from the average session volume of 2,683,456 shares. The stock had previously closed at $2.87.

Wall Street Analysts Forecast Growth

Separately, UBS Group assumed coverage on ECARX in a report on Tuesday, February 11th. They issued a “buy” rating and a $3.20 price objective for the company.

ECARX Stock Down 33.6 %

The company has a 50 day moving average price of $2.19 and a 200-day moving average price of $1.97. The company has a market cap of $506.93 million, a P/E ratio of -3.00 and a beta of 0.23.

Hedge Funds Weigh In On ECARX

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in ECARX during the fourth quarter valued at approximately $630,000. Jane Street Group LLC acquired 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 worth $348,000. Virtu Financial LLC purchased a new position in ECARX in the 4th quarter worth about $319,000. Finally, Marshall Wace LLP acquired a new stake in shares of ECARX during the fourth quarter valued at approximately $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.