ECARX (NASDAQ:ECX) Stock Price Up 5.8% – Should You Buy?

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price traded up 5.8% on Wednesday . The stock traded as high as $1.79 and last traded at $1.7450. 1,772,837 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 4,090,927 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ECX shares. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.20.

ECARX Stock Performance

The firm has a market cap of $646.92 million, a P/E ratio of -7.93 and a beta of 0.76. The firm’s fifty day moving average is $2.03 and its 200 day moving average is $1.90.

Institutional Trading of ECARX

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new position in ECARX in the 1st quarter valued at $302,000. MYDA Advisors LLC bought a new stake in ECARX in the 1st quarter valued at about $164,000. Ghisallo Capital Management LLC bought a new stake in ECARX in the 1st quarter valued at about $441,000. Cubist Systematic Strategies LLC acquired a new position in shares of ECARX during the 1st quarter worth approximately $213,000. Finally, Hhlr Advisors LTD. bought a new position in shares of ECARX during the first quarter worth approximately $504,000.

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).