ECARX (NASDAQ:ECX) Trading Up 5.7% – Time to Buy?

ECARX Holdings Inc. (NASDAQ:ECX)’s share price rose 5.7% during mid-day trading on Friday . The stock traded as high as $1.57 and last traded at $1.58. Approximately 194,698 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 4,504,185 shares. The stock had previously closed at $1.49.

Analyst Upgrades and Downgrades

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

ECARX Trading Up 6.7%

The firm’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.81. The firm has a market cap of $589.46 million, a price-to-earnings ratio of -3.18 and a beta of 0.47.

ECARX (NASDAQ:ECX) last issued its earnings results on Wednesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $168.40 million for the quarter, compared to analyst estimates of $154.18 million. On average, sell-side analysts expect that ECARX Holdings Inc. will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ECX. Barclays PLC acquired a new stake in ECARX during the 4th quarter worth $348,000. Virtu Financial LLC acquired a new stake in ECARX during the 4th quarter worth $319,000. Two Sigma Securities LLC acquired a new stake in ECARX during the 4th quarter worth $30,000. Tower Research Capital LLC TRC acquired a new stake in ECARX during the 4th quarter worth $32,000. Finally, Renaissance Technologies LLC acquired a new stake in ECARX during the 4th quarter worth $630,000.

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.