ECARX (NASDAQ:ECX) Reaches New 1-Year High – Here’s What Happened

ECARX Holdings Inc. (NASDAQ:ECX) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $3.25 and last traded at $3.25, with a volume of 8460893 shares traded. The stock had previously closed at $2.49.

Wall Street Analyst Weigh In

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

ECARX Stock Down 4.2 %

The company’s fifty day moving average is $2.08 and its 200 day moving average is $1.92. The firm has a market cap of $915.84 million, a price-to-earnings ratio of -5.42 and a beta of 0.22.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in ECARX during the fourth quarter worth $630,000. Jane Street Group LLC bought a new stake in ECARX during the fourth quarter worth $364,000. Barclays PLC bought a new stake in ECARX during the fourth quarter worth $348,000. Virtu Financial LLC bought a new stake in ECARX during the fourth quarter worth $319,000. Finally, Marshall Wace LLP bought a new stake in ECARX during the fourth quarter worth $245,000.

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.