ECARX (NASDAQ:ECX) Sees Large Volume Increase – Here’s Why

ECARX Holdings, Inc. (NASDAQ:ECX) shares saw strong trading volume on Tuesday . 12,208,482 shares were traded during mid-day trading, an increase of 196% from the previous session’s volume of 4,124,836 shares.The stock last traded at $2.0550 and had previously closed at $2.14.

Wall Street Analysts Forecast Growth

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

ECARX Trading Up 0.9%

The business’s 50-day moving average is $2.12 and its two-hundred day moving average is $1.83. The stock has a market capitalization of $800.78 million, a PE ratio of -9.82 and a beta of 0.74.

ECARX (NASDAQ:ECX) last posted its earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The firm had revenue of $155.30 million for the quarter, compared to analyst estimates of $223.92 million. On average, analysts predict that ECARX Holdings, Inc. will post -0.42 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ECX. Deutsche Bank AG purchased a new stake in ECARX during the 1st quarter worth approximately $3,722,000. Valliance Asset Management Ltd bought a new stake in shares of ECARX in the first quarter worth $2,252,000. Legal & General Group Plc bought a new stake in shares of ECARX in the second quarter worth $2,341,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ECARX in the second quarter valued at $1,722,000. Finally, Jane Street Group LLC boosted its stake in ECARX by 234.4% during the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock valued at $726,000 after acquiring an additional 404,119 shares during the last quarter.

About ECARX

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.