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

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

Wall Street Analyst Weigh In

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

ECARX Trading Up 8.6 %

The stock’s fifty day moving average is $1.89 and its two-hundred day moving average is $1.81. The company has a market capitalization of $701.25 million, a PE ratio of -4.15 and a beta of 0.31.

Institutional Investors Weigh In On ECARX

An institutional investor recently bought a new position in ECARX stock. Green Alpha Advisors LLC acquired a new position in ECARX Holdings Inc. (NASDAQ:ECX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,996 shares of the company’s stock, valued at approximately $167,000.

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.