ECARX (NASDAQ:ECX) Sees Strong Trading Volume – Time to Buy?

Shares of ECARX Holdings Inc. (NASDAQ:ECX) saw unusually-strong trading volume on Friday . Approximately 829,274 shares were traded during trading, an increase of 22% from the previous session’s volume of 681,892 shares.The stock last traded at $2.61 and had previously closed at $2.71.

Analysts Set New Price Targets

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

ECARX Price Performance

The firm has a market cap of $910.78 million, a P/E ratio of -5.37 and a beta of 0.23. The business’s 50-day moving average is $2.13 and its two-hundred day moving average is $1.94.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in ECARX in the fourth quarter valued at $630,000. Jane Street Group LLC acquired a new stake in ECARX in the fourth quarter valued at $364,000. Barclays PLC acquired a new stake in ECARX in the fourth quarter valued at $348,000. Virtu Financial LLC acquired a new stake in ECARX in the fourth quarter valued at $319,000. Finally, Marshall Wace LLP acquired a new stake in ECARX in the fourth quarter valued at $245,000.

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.