ECARX (NASDAQ:ECX) Stock Price Up 3.8% – Should You Buy?

ECARX Holdings, Inc. (NASDAQ:ECX)’s share price was up 3.8% on Tuesday . The stock traded as high as $1.65 and last traded at $1.6250. Approximately 328,969 shares traded hands during trading, a decline of 92% from the average daily volume of 4,150,083 shares. The stock had previously closed at $1.5650.

Analyst Ratings Changes

Several research firms recently issued reports on ECX. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.20.

ECARX Trading Up 5.1%

The firm has a market capitalization of $609.85 million, a price-to-earnings ratio of -7.48 and a beta of 0.76. The firm has a fifty day moving average price of $1.98 and a 200 day moving average price of $1.89.

Hedge Funds Weigh In On ECARX

Several large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL boosted its position in shares of ECARX by 430.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock worth $2,573,000 after purchasing an additional 1,038,476 shares during the last quarter. Legal & General Group Plc lifted its stake in ECARX by 1.4% in the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after buying an additional 16,420 shares during the period. Citadel Advisors LLC acquired a new position in ECARX in the third quarter valued at about $2,054,000. UBS Group AG boosted its holdings in ECARX by 13.1% during the third quarter. UBS Group AG now owns 950,930 shares of the company’s stock worth $1,911,000 after buying an additional 110,243 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ECARX during the 2nd quarter worth about $1,722,000.

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).