ECARX (NASDAQ:ECX) Shares Up 4.8% – What’s Next?

ECARX Holdings Inc. (NASDAQ:ECX) shares shot up 4.8% on Thursday . The stock traded as high as $2.64 and last traded at $2.73. 176,170 shares changed hands during trading, a decline of 73% from the average session volume of 656,694 shares. The stock had previously closed at $2.60.

Analysts Set New Price Targets

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

ECARX Trading Down 1.8 %

The firm has a fifty day moving average of $2.14 and a 200 day moving average of $1.95. The company has a market capitalization of $898.95 million, a P/E ratio of -5.32 and a beta of 0.23.

Institutional Trading of ECARX

A number of large investors have recently made changes to their positions in ECX. Green Alpha Advisors LLC purchased a new stake in ECARX in the fourth quarter worth approximately $167,000. Millennium Management LLC purchased a new position in shares of ECARX in the 4th quarter worth $207,000. Citadel Advisors LLC bought a new stake in shares of ECARX in the fourth quarter worth $68,000. Northern Trust Corp increased its position in ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after acquiring an additional 41,568 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in ECARX in the fourth quarter valued at about $364,000.

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.