UBS Group Begins Coverage on ECARX (NASDAQ:ECX)

Research analysts at UBS Group started coverage on shares of ECARX (NASDAQ:ECX) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $3.20 price target on the stock. UBS Group’s target price points to a potential upside of 67.54% from the company’s previous close.

ECARX Stock Up 10.4 %

Shares of ECX stock opened at $1.91 on Tuesday. The stock has a market cap of $645.48 million, a P/E ratio of -3.82 and a beta of 0.31. ECARX has a 52 week low of $0.96 and a 52 week high of $3.09. The company’s fifty day simple moving average is $1.89 and its two-hundred day simple moving average is $1.81.

Hedge Funds Weigh In On ECARX

A hedge fund recently bought a new stake in ECARX stock. Green Alpha Advisors LLC purchased a new stake in shares of ECARX Holdings Inc. (NASDAQ:ECX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 78,996 shares of the company’s stock, valued at approximately $167,000.

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.