ECARX (NASDAQ:ECX) Stock Price Up 8.7% – Should You Buy?
by Danessa Lincoln · The Markets DailyECARX Holdings, Inc. (NASDAQ:ECX – Get Free Report)’s share price rose 8.7% during mid-day trading on Tuesday . The stock traded as high as $2.05 and last traded at $2.0650. Approximately 3,955,197 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 2,861,358 shares. The stock had previously closed at $1.90.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on ECX shares. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, ECARX has an average rating of “Hold” and a consensus price target of $3.20.
Check Out Our Latest Stock Analysis on ECX
ECARX Stock Performance
The business’s 50 day moving average price is $1.81 and its 200-day moving average price is $1.88. The company has a market cap of $763.70 million, a price-to-earnings ratio of -9.36 and a beta of 0.76.
Institutional Investors Weigh In On ECARX
A number of institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of ECARX by 5.8% in the 2nd quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock valued at $520,000 after purchasing an additional 13,859 shares during the period. Legal & General Group Plc boosted its stake in ECARX by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after buying an additional 16,420 shares in the last quarter. SG Americas Securities LLC grew its position in ECARX by 117.9% in the fourth quarter. SG Americas Securities LLC now owns 40,000 shares of the company’s stock valued at $69,000 after acquiring an additional 21,646 shares during the period. Goldman Sachs Group Inc. raised its stake in ECARX by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock worth $94,000 after acquiring an additional 22,498 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of ECARX during the third quarter valued at $51,000.
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).