ECARX (NASDAQ:ECX) Sees Large Volume Increase – Time to Buy?

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) saw unusually-high trading volume on Monday . Approximately 927,211 shares traded hands during trading, a decline of 25% from the previous session’s volume of 1,240,117 shares.The stock last traded at $1.9350 and had previously closed at $1.91.

Analysts Set New Price Targets

ECX has been the subject of several recent research reports. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.20.

ECARX Price Performance

The firm has a market cap of $685.85 million, a price-to-earnings ratio of -8.41 and a beta of 0.76. The stock’s fifty day moving average price is $1.87 and its 200-day moving average price is $1.89.

Institutional Trading of ECARX

Several hedge funds and other institutional investors have recently modified their holdings of ECX. Cubist Systematic Strategies LLC acquired a new position in ECARX during the first quarter valued at $213,000. Goldman Sachs Group Inc. grew its stake in ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after acquiring an additional 22,498 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of ECARX by 234.4% in the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock valued at $726,000 after purchasing an additional 404,119 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ECARX in the 2nd quarter valued at about $1,722,000. Finally, Legal & General Group Plc acquired a new stake in shares of ECARX during the second quarter worth approximately $2,341,000.

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).