ECARX (NASDAQ:ECX) Trading Up 8.6% – Time to Buy?

ECARX Holdings, Inc. (NASDAQ:ECX)’s share price rose 8.6% during mid-day trading on Tuesday . The stock traded as high as $1.85 and last traded at $1.8250. Approximately 1,748,447 shares traded hands during trading, a decline of 50% from the average daily volume of 3,495,393 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

ECX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Wall Street Zen raised ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.20.

ECARX Trading Up 10.4%

The firm has a market cap of $687.70 million, a P/E ratio of -8.43 and a beta of 0.76. The company’s 50-day moving average is $1.81 and its two-hundred day moving average is $1.89.

Institutional Investors Weigh In On ECARX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in ECARX by 5.8% during the 2nd quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock worth $520,000 after acquiring an additional 13,859 shares during the last quarter. Legal & General Group Plc boosted its holdings in ECARX by 1.4% during the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after purchasing an additional 16,420 shares during the last quarter. SG Americas Securities LLC grew its position in ECARX by 117.9% in the 4th quarter. SG Americas Securities LLC now owns 40,000 shares of the company’s stock worth $69,000 after purchasing an additional 21,646 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after buying an additional 22,498 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of ECARX during the 3rd quarter worth approximately $51,000.

About ECARX

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).