ECARX (NASDAQ:ECX) Shares Down 8% – What’s Next?

ECARX Holdings Inc. (NASDAQ:ECX)’s stock price was down 8% during mid-day trading on Tuesday . The stock traded as low as $2.70 and last traded at $2.46. Approximately 905,193 shares changed hands during trading, a decline of 56% from the average daily volume of 2,064,213 shares. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

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

ECARX Stock Down 12.2 %

The stock has a 50-day simple moving average of $2.05 and a two-hundred day simple moving average of $1.91. The firm has a market cap of $964.17 million, a PE ratio of -5.75 and a beta of 0.22.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ECX. Renaissance Technologies LLC purchased a new position in shares of ECARX in the fourth quarter worth about $630,000. Jane Street Group LLC purchased a new position in shares of ECARX in the fourth quarter worth about $364,000. Barclays PLC purchased a new position in shares of ECARX in the fourth quarter worth about $348,000. Virtu Financial LLC purchased a new position in shares of ECARX in the fourth quarter worth about $319,000. Finally, Marshall Wace LLP purchased a new position in shares of ECARX in the fourth quarter worth about $245,000.

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.