Cantor Fitzgerald initiated coverage on shares of ECARX (NASDAQ:ECX – Get Rating) in a report issued on Monday, The Fly reports. The brokerage issued an overweight rating and a $10.00 price target on the stock. Cantor Fitzgerald also issued estimates for ECARX’s FY2023 earnings at ($0.38) EPS.
ECARX Trading Down 7.7 %
ECX stock opened at $6.38 on Monday. ECARX has a 12 month low of $3.02 and a 12 month high of $11.00. The business has a 50-day moving average of $5.44.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new stake in ECARX in the 4th quarter worth approximately $344,000. Altshuler Shaham Ltd purchased a new position in shares of ECARX during the 4th quarter valued at approximately $59,000. Finally, Virtu Financial LLC purchased a new position in shares of ECARX during the 1st quarter valued at approximately $141,000. 72.13% of the stock is currently owned by institutional investors.
ECARX Company Profile
ECARX Holdings, Inc engages in the design, development, and delivery of vehicle technology. Its products include infotainment head units, digital cockpits, vehicle chip-set, operating system and software stack. The company was founded in 2017 and is based in Shanghai, China with an additional office in Europe.
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