ECARX (NASDAQ:ECX) Stock Price Up 8.7% – Here’s What Happened

ECARX Holdings, Inc. (NASDAQ:ECX) shares traded up 8.7% on Tuesday . The stock traded as high as $2.05 and last traded at $2.0650. 3,955,197 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 2,861,358 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

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

ECARX Stock Up 8.4%

The stock has a fifty day moving average of $1.81 and a 200-day moving average of $1.88. The firm has a market capitalization of $763.70 million, a P/E ratio of -9.36 and a beta of 0.76.

Hedge Funds Weigh In On ECARX

A number of institutional investors have recently modified their holdings of ECX. SG Americas Securities LLC grew its stake in shares of ECARX by 117.9% during the fourth quarter. SG Americas Securities LLC now owns 40,000 shares of the company’s stock valued at $69,000 after purchasing an additional 21,646 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in ECARX by 430.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock worth $2,573,000 after buying an additional 1,038,476 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in ECARX in the 3rd quarter valued at $51,000. Citadel Advisors LLC acquired a new stake in shares of ECARX in the 3rd quarter valued at $2,054,000. Finally, Squarepoint Ops LLC bought a new stake in shares of ECARX during the third quarter worth $59,000.

ECARX Company Profile

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).