ECARX (NASDAQ:ECX) Sets New 1-Year High – Here’s Why

ECARX Holdings Inc. (NASDAQ:ECX) hit a new 52-week high on Thursday . The company traded as high as $3.25 and last traded at $3.25, with a volume of 8460893 shares traded. The stock had previously closed at $2.49.

Analysts Set New Price Targets

Separately, UBS Group began coverage on shares of ECARX in a report on Tuesday, February 11th. They issued a “buy” rating and a $3.20 price objective for the company.

ECARX Trading Up 30.5 %

The company has a market capitalization of $1.10 billion, a PE ratio of -6.50 and a beta of 0.22. The business’s fifty day moving average is $2.05 and its two-hundred day moving average is $1.91.

Hedge Funds Weigh In On ECARX

A number of institutional investors and hedge funds have recently modified their holdings of ECX. Renaissance Technologies LLC bought a new position in ECARX in the fourth quarter valued at about $630,000. Jane Street Group LLC purchased a new stake in shares of ECARX during the 4th quarter valued at about $364,000. Barclays PLC bought a new position in shares of ECARX in the 4th quarter worth approximately $348,000. Virtu Financial LLC purchased a new position in shares of ECARX in the fourth quarter worth approximately $319,000. Finally, Marshall Wace LLP bought a new stake in ECARX during the fourth quarter valued at approximately $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.