ECARX (NASDAQ:ECX) Stock Price Up 5.8% – Here’s What Happened

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price rose 5.8% during mid-day trading on Wednesday . The company traded as high as $1.79 and last traded at $1.7450. Approximately 1,772,837 shares traded hands during trading, a decline of 57% from the average daily volume of 4,090,927 shares. The stock had previously closed at $1.65.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ECX. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.20.

ECARX Stock Performance

The company has a market cap of $646.92 million, a price-to-earnings ratio of -7.93 and a beta of 0.76. The business has a fifty day moving average price of $2.03 and a 200 day moving average price of $1.90.

Institutional Investors Weigh In On ECARX

A number of hedge funds have recently made changes to their positions in ECX. Integrated Wealth Concepts LLC bought a new position in ECARX in the 3rd quarter valued at approximately $51,000. Squarepoint Ops LLC bought a new stake in shares of ECARX during the third quarter worth $59,000. Tower Research Capital LLC TRC acquired a new position in shares of ECARX during the second quarter worth $71,000. Goldman Sachs Group Inc. lifted its stake in shares of ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after acquiring an additional 22,498 shares during the last quarter. Finally, MYDA Advisors LLC acquired a new stake in shares of ECARX during the 1st quarter valued at $164,000.

About ECARX

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).