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

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

Analysts Set New Price Targets

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

ECARX Trading Up 2.6 %

The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $1.88. The company has a market capitalization of $946.26 million, a P/E ratio of -5.60 and a beta of 0.23.

Hedge Funds Weigh In On ECARX

A number of hedge funds have recently bought and sold shares of ECX. Green Alpha Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter valued at $167,000. Virtu Financial LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $319,000. Renaissance Technologies LLC bought a new position in ECARX in the 4th quarter valued at approximately $630,000. Barclays PLC acquired a new stake in ECARX during the 4th quarter worth approximately $348,000. Finally, XTX Topco Ltd acquired a new position in ECARX in the 4th quarter valued at approximately $52,000.

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.