ECARX (NASDAQ:ECX) Coverage Initiated by Analysts at UBS Group

Equities researchers at UBS Group began coverage on shares of ECARX (NASDAQ:ECX) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $3.20 price target on the stock. UBS Group’s price target would indicate a potential upside of 64.95% from the stock’s previous close.

ECARX Price Performance

NASDAQ ECX opened at $1.94 on Tuesday. The company’s 50 day simple moving average is $1.90 and its two-hundred day simple moving average is $1.81. ECARX has a 1 year low of $0.96 and a 1 year high of $3.09. The stock has a market capitalization of $655.62 million, a PE ratio of -3.88 and a beta of 0.31.

Hedge Funds Weigh In On ECARX

An institutional investor recently bought a new position in ECARX stock. Green Alpha Advisors LLC purchased a new position in ECARX Holdings Inc. (NASDAQ:ECX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 78,996 shares of the company’s stock, valued at approximately $167,000.

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.