ECARX (NASDAQ:ECX) Sees Strong Trading Volume – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX) saw an uptick in trading volume on Friday . 829,274 shares changed hands during 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.

Analyst Ratings Changes

Separately, UBS Group began coverage on ECARX in a research report on Tuesday, February 11th. They set a “buy” rating and a $3.20 price objective on the stock.

ECARX Price Performance

The firm has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $1.95. The company has a market cap of $898.95 million, a price-to-earnings ratio of -5.32 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new stake in shares of ECARX in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC acquired a new position in ECARX during the 4th quarter worth $32,000. XTX Topco Ltd purchased a new stake in ECARX during the 4th quarter worth about $52,000. Citadel Advisors LLC purchased a new stake in ECARX during the 4th quarter worth about $68,000. Finally, Green Alpha Advisors LLC purchased a new stake in ECARX during the 4th quarter worth about $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.