ECARX (NASDAQ:ECX) Reaches New 1-Year High – Should You Buy?

Shares of ECARX Holdings Inc. (NASDAQ:ECX) hit a new 52-week high on Thursday . The company traded as high as $2.98 and last traded at $2.81, with a volume of 1670209 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

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

ECARX Price Performance

The business’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $1.87. The firm has a market capitalization of $927.67 million, a price-to-earnings ratio of -5.49 and a beta of 0.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ECX. Green Alpha Advisors LLC acquired a new position in shares of ECARX during the fourth quarter worth approximately $167,000. Millennium Management LLC bought a new stake in ECARX during the 4th quarter valued at $207,000. Citadel Advisors LLC acquired a new position in ECARX during the fourth quarter worth $68,000. Northern Trust Corp lifted its stake in shares of ECARX by 103.8% in the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after buying an additional 41,568 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of ECARX during the fourth quarter worth 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.