ECARX (NASDAQ:ECX) Stock Price Down 5.5% – Time to Sell?

ECARX Holdings Inc. (NASDAQ:ECX) shares fell 5.5% during mid-day trading on Tuesday . The company traded as low as $2.51 and last traded at $2.50. 522,104 shares changed hands during trading, a decline of 16% from the average session volume of 623,447 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

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

ECARX Trading Up 0.2 %

The company has a 50 day moving average of $2.09 and a 200 day moving average of $1.93. The firm has a market cap of $893.88 million, a price-to-earnings ratio of -5.27 and a beta of 0.23.

Institutional Investors Weigh In On ECARX

A number of hedge funds have recently modified their holdings of ECX. Two Sigma Securities LLC bought a new stake in ECARX during the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $32,000. XTX Topco Ltd bought a new stake in shares of ECARX during the fourth quarter worth $52,000. Citadel Advisors LLC bought a new stake in shares of ECARX during the fourth quarter worth $68,000. Finally, Northern Trust Corp raised its holdings in shares of ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after acquiring an additional 41,568 shares during the period.

ECARX Company Profile

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.