Deutsche Bank AG Acquires Shares of 2,954,051 ECARX Holdings, Inc. $ECX

Key Points

• Deutsche Bank AG has acquired a new stake in ECARX Holdings, Inc., purchasing 2,954,051 shares valued at approximately $3.72 million, representing about 0.80% ownership.
• Other hedge funds, including XTX Topco Ltd and Valliance Asset Management Ltd, have also significantly increased or initiated stakes in ECARX during the same quarter.
• Analysts have recently upgraded ECARX from a "sell" to a "hold" rating, reflecting a shift in sentiment towards the company's stock.

Deutsche Bank AG purchased a new position in shares of ECARX Holdings, Inc. (NASDAQ:ECX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,954,051 shares of the company's stock, valued at approximately $3,722,000. Deutsche Bank AG owned approximately 0.80% of ECARX as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Valliance Asset Management Ltd acquired a new stake in shares of ECARX in the 1st quarter valued at approximately $2,252,000. Infini Capital Management Ltd acquired a new stake in shares of ECARX during the 1st quarter valued at $2,005,000. Renaissance Technologies LLC acquired a new position in ECARX in the 4th quarter worth about $630,000. Jane Street Group LLC bought a new position in ECARX in the fourth quarter valued at about $364,000. Finally, Barclays PLC acquired a new stake in shares of ECARX during the fourth quarter valued at about $348,000.

ECARX Stock Up 5.8%

ECX stock traded up $0.0950 during mid-day trading on Friday, hitting $1.7450. The company had a trading volume of 1,416,450 shares, compared to its average volume of 4,178,040. The company has a market capitalization of $646.92 million, a price-to-earnings ratio of -4.99 and a beta of 0.66. The company has a 50-day moving average price of $1.77 and a 200 day moving average price of $1.74. ECARX Holdings, Inc. has a 12-month low of $0.7575 and a 12-month high of $3.25.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of ECARX from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $3.20.

ECARX Profile

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.