ECARX (NASDAQ:ECX) Trading Down 5.5% – Should You Sell?

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

Wall Street Analyst Weigh In

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

ECARX Price Performance

The company’s 50 day simple moving average is $2.12 and its 200 day simple moving average is $1.94. The stock has a market cap of $878.67 million, a P/E ratio of -5.20 and a beta of 0.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ECX. Millennium Management LLC bought a new stake in ECARX during the 4th quarter worth approximately $207,000. Citadel Advisors LLC bought a new stake in shares of ECARX during the fourth quarter worth $68,000. Jane Street Group LLC acquired a new stake in shares of ECARX during the fourth quarter worth $364,000. Northern Trust Corp lifted its position in ECARX by 103.8% in the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after acquiring an additional 41,568 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new position in ECARX in the 4th quarter worth $30,000.

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.