ECARX (NASDAQ:ECX) Stock Price Down 5.2% – Here’s What Happened

ECARX Holdings Inc. (NASDAQ:ECX) shares were down 5.2% during mid-day trading on Wednesday . The stock traded as low as $1.94 and last traded at $1.98. Approximately 1,299,272 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 1,190,661 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

Separately, UBS Group initiated coverage on shares of ECARX in a research report on Tuesday. They set a “buy” rating and a $3.20 price objective on the stock.

ECARX Stock Down 4.5 %

The stock has a market cap of $674.21 million, a PE ratio of -3.95 and a beta of 0.31. The stock’s fifty day moving average price is $1.90 and its 200 day moving average price is $1.81.

Institutional Investors Weigh In On ECARX

An institutional investor recently bought a new position in ECARX stock. Green Alpha Advisors LLC bought a new position in ECARX Holdings Inc. (NASDAQ:ECX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 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.