ECARX (NASDAQ:ECX) Stock Price Up 4.8% – Still a Buy?

ECARX Holdings Inc. (NASDAQ:ECX) shares rose 4.8% during trading on Thursday . The company traded as high as $2.64 and last traded at $2.73. Approximately 176,170 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 656,694 shares. The stock had previously closed at $2.60.

Analysts Set New Price Targets

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

ECARX Trading Up 9.4 %

The firm has a market capitalization of $961.47 million, a PE ratio of -5.69 and a beta of 0.23. The stock has a 50 day simple moving average of $2.12 and a 200 day simple moving average of $1.94.

Institutional Investors Weigh In On ECARX

A number of large investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in ECARX during the 4th quarter valued at approximately $207,000. Citadel Advisors LLC bought a new position in ECARX in the 4th quarter worth $68,000. Jane Street Group LLC purchased a new stake in shares of ECARX in the 4th quarter worth about $364,000. Northern Trust Corp boosted its stake in shares of ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after purchasing an additional 41,568 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of ECARX during the fourth quarter valued at about $30,000.

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.